A year or two ago "sovereign wealth fund" was a term familiar only to a relative few on Wall Street. But that changed dramatically after credit began drying up and major financial institutions such as Citigroup and Merrill Lynch began scouring the globe for cash infusions. Now, sovereign wealth funds are a page - one story. In fact, the power of these investment vehicles—many controlled by cash-rich petro- states—was in stark relief on Mar. 4 when comments by the chief of a Dubai fund knocked Citi shares down to a 52-week low.
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