SWF's

Elsewhere in the equities market, Kuwait’s sovereign wealth fund bought $5 billion worth of U.S. financials. According to a statement from the Kuwait Investment Authority, the SWF bought $3 billion of Citigroup and $2 billion worth of Merrill Lynch when both companies were raising funds in January. The two banks hinted then that Kuwait played a role in their emergency offerings, but didn’t disclose the amount until this week.
And Kuwait wasn’t alone… Singapore and Korea’s SWFs snatched up some shares of Citi and Merrill, as well.