While recognizing that the concerns with sovereign investment in financial firms are significant, these concerns need not be answered by adding to or amending existing statutes and regulations. First, as Robert Kimmitt has noted, SWFs have not caused significant financial-market disruption, and...

The Public Funds Investment Policies Survey is an annual publication, now in its fourth year, which surveys the current investment policy disclosures of the 25 largest (by AUM) sovereign wealth funds (SWFs) in the world, as listed by the Sovereign Wealth Fund Institute, and the 25 largest (by...

The Public Funds Investment Policies Survey is an annual publication, now in its fifth year, which surveys the current investment policy disclosures of the 26 largest (by AUM) sovereign wealth funds (SWFs) in the world, as listed by the Sovereign Wealth Fund Institute, and the 25 largest (by...

This Article considers various factors affecting the competitiveness of U.S. capital markets in comparison to foreign markets as offered in recent reports by the Committee on Capital Markets Regulation, McKinsey & Co. (commissioned by the City of New York), and the U.S. Chamber of Commerce. We...

Sustainable finance represents a tremendous occasion for institutional investors globally, especially in lower-middle to low-income countries. For instance, in these country groups the share of global energy investment was 14% for a population representing a share of 42% of the total. Sovereign...

Accumulating evidence suggests that several recent regulations enacted by Congress and the SEC, including the Sarbanes-Oxley Act, have disproportionately burdened smaller public companies in a negative manner, such that many of these companies are exiting the public markets. This Article...

With trillions of dollars in assets, sovereign wealth funds (SWFs) play a major role in financial markets around the world. With billions (and probably well over a trillion) dollars' worth of equity investments around the world, the investment behavior of SWFs is of primary concern to...

We examine how liquidity and return concerns at large mutual funds explain their diminished participation in small IPOs since the late 1990s. Using 5,825 IPOs and portfolio-level information for 37,052 funds, we exploit Russia's 1998 debt default as an exogenous shock to funds' liquidity...

Over the last decade, public pension systems have shifted away from equities and fixed income in favor of alternative investments. We construct panel data of legislative changes affecting pensions, merging these with fund level data from the Public Plans Database. Using these in tandem with data...