SWF fee pool: big pot, little pot

The Gulf is looking increasingly crowded with investment bankers desperate to cash in on sovereign wealth funds. Morgan Stanley just packed off another three of its top guys to the region. Yet while the opportunity looks enticing compared with the turmoil in Western markets, the pot isn’t as big as everyone thinks. Sure, it sounds huge. Middle Eastern funds, from Abu Dhabi, Dubai, Kuwait, Libya, Oman and Qatar account for a whopping two-thirds of the estimated $3trn of total assets held by sove...