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Sovereign wealth funds accelerate their global investment drive

Government-backed schemes are buying assets and hoping to reverse the losses they made during the credit crisis

They liked the cars so much they bought the company – in this case it was the Abu Dhabi-controlled investment fund, Aabar Investments, that last month took a 9.1% stake in German car manufacturer Daimler, owner of the Mercedes-Benz brand, for €1.9bn ($2.5bn).

The move reflected not just the Middle Eastern passion for high performance vehicles, but the way sovereign wealth funds have come back to the market after suffering heavy losses through the credit crunch.

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