At The Deal's Fifth Annual Private Capital Symposium, Gary Parr, vice chairman at Lazard, spoke about the rise of sovereign wealth funds.
In this clip, Parr explains why sovereign wealth funds are on the rise. "There are two real causes. One is the price of oil. ...The second is our trade deficit," he said.
Parr also mentions the resistance to sovereign wealth funds and where most of these funds invest.
"Roughly 80% of sovereign wealth funds invested in financial institutions in 2007. Of over 80% of those investments are in financial institutions, 50% are in securities firms ... and most were in Western banks," he added.
For more, watch the video after the jump. --
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