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ABU DHABI, 1st April, 2023 (WAM) — The Canadian Ambassador to the UAE, Kris Panday, has welcomed the launch of the Canada-UAE Sovereign Wealth Fund Council, SWFC.
“SWFC’s mission is to leverage the synergy between preeminent institutional investors in Canada and the UAE to deliver superior risk-adjusted returns in support of the mutual interest,” said the ambassador.
He noted that SWFC will help identify opportunities for strategic capital collaboration and thought leadership in global markets between the Canadian Public Pension Fund (PPF) and the UAE Sovereign Wealth Fund (SWF).
Panday said it aims to provide an investment cooperation framework with a more dynamic and flexible structure that benefits Canada and the UAE as the two main investment partners.
Panday will serve as lead co-sponsor of SWFC along with Fahad Saeed Al Raqbani, UAE Ambassador to Canada.
Shezad Rokerya has been appointed as Senior Advisor to Ambassador Panday and will serve as Chairman of SWFC.
Ambassador Al Raqbani said, “Through the Canada-UAE SWFC, we have the ability to leverage the respective strengths of both countries to bring together innovative ideas, expertise and resources to power sustainable economic development and investment opportunities.”
He added: “This partnership paves the way for further collaboration that will shape the future global financial landscape. This is not only a strategic opportunity, but also a shared responsibility to build a more sustainable and equitable future for all .”
Rokerya, Chairman of SWFC, said: “The top six Canadian PPFs and the UAE SWF collectively manage over $3 trillion in assets. SWFC will enable these stakeholders to jointly develop investment strategies and deploy them globally in transformative and impactful ways capital to enable significant value creation.”
The initiative will act as a catalyst to enable multiple members in Canada and the UAE to strategically grow and co-invest globally. SWFC stakeholders will be able to leverage each other’s respective strengths, challenges, experience and thought leadership in each asset class, industry and geographic impact to develop areas of collaboration. SWFC will lead discussions with the senior leadership of PPF Canada and SWF UAE to develop a governance framework and outline overall criteria for co-alignment and development of a potential co-investment strategy.
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