Sovereign investment fund Istithmar stops and can be sold

Istithmar World, a Dubai sovereign fund of national well-being, reduces investment program in an effort to transform, once spent $ 25 billion this decade to buy shares in companies ranging from manufacturers of yachts up to luxury retailer Barneys New York, reports the agency Bloomberg.

This process can lead to a sale of stock or its assets, saying unnamed sources Agency. Istithmar under David Jackson (David Jackson) said this week that the Vice Director of Investments, John Amato (John Amato) and Felix Herlihy (Felix Herlihy) leave the company. The fate of the Jackson Istithma is under consideration.

Istithmar has this year a number of failed investments, including Barneys, which may be faced with bankruptcy or restructuring, according to people familiar with the situation in CityCenter, a project worth $ 11 billion in Las Vegas.

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