More on SWFs and top banks

We've noted that sovereign wealth funds, despite the political controversy, represent a vast source of new business of Wall Street firms. IDD fleshes out the idea a bit. Morgan Stanley, Lehman Brothers and Barclays seem to be among the first movers. A host of law firms are also heading to the region. The pie will be large, that's for sure. Morgan Stanley figures that SWFs' assets will grow to $17.5 trillion by 2017. The issue is what product mix these funds will move toward. Most think that they will not generate an inordinate amount of merger revenue. But hedge funds, private equity funds, commodities funds and derivatives funds likely will be seen a terrific opportunities.

For more:
- here's the IDD article

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