Gents,

Let's discuss today what else we can be doing to connect with these groups.  I am losing faith in Sam.

Currently we're working on the following:

• UAE Abu Dhabi Investment Auth, Mubadala Development Company, Investment Corporation of Dubai, International Petroleum Investment Company- Hunter having lunch with the Ambassador
• KIA- met with Ambassador, intro letter went to KIA, follow-up
• CIC- scheduling meeting for April 21st
• China Social Security- following up with Jonathan Li to see if there's viability
• NM State Investment Authority- Richardson exploring rfp
• Korea Pension- vis-a-vi Partners Group pitch
• Norway- DA meeting March 21st in NY

Ideas we could follow-up on:

• Australia Future Fund– ask for introduction through Michael Andrews
• New Zealand Superannuation Fund- ask for intro through Rank
• Ireland- ask for intro through Rooney
• Singapore – let's discuss, but we should try and find an introduction there
• Other

D - 

From: Eric Schwerin <eschwerin@rosemontseneca.com>
Date: Tue, 8 Mar 2011 08:13:12 -0500
To: Hunter Biden <hbiden@rosemontseneca.com>, Devon Archer <darcher@rosemontseneca.com>
Subject: Top Sovereign Wealth Funds Rankings

http://www.swfinstitute.org/fund-rankings/

Fund Rankings

Sovereign Wealth Fund Rankings

Largest Sovereign Wealth Funds by Assets Under Management

Country Fund Name Assets $Billion Inception Origin Linaburg-Maduell Transparency Index UAE – Abu Dhabi Abu Dhabi Investment Authority $627 1976 Oil 3 Norway Government Pension Fund – Global $556.8 1990 Oil 10 Saudi Arabia SAMA Foreign Holdings $439.1 n/a Oil 2 China SAFE Investment Company $347.1** 1997 Non-Commodity 2 China China Investment Corporation $332.4 2007 Non-Commodity 6 China – Hong Kong Hong Kong Monetary Authority Investment Portfolio $292.3 1993 Non-Commodity 8 Singapore Government of Singapore Investment Corporation $247.5 1981 Non-Commodity 6 Kuwait Kuwait Investment Authority $202.8 1953 Oil 6 China National Social Security Fund $146.5 2000 Non-Commodity 5 Singapore Temasek Holdings $145.3 1974 Non-Commodity 10 Russia National Welfare Fund $142.5* 2008 Oil 5 Qatar Qatar Investment Authority $85 2005 Oil 5 Australia Australian Future Fund $72.9 2004 Non-Commodity 10 Libya Libyan Investment Authority $70 2006 Oil 2 Algeria Revenue Regulation Fund $56.7 2000 Oil 1 UAE – Abu Dhabi International Petroleum Investment Company $48.2 1984 Oil n/a US – Alaska Alaska Permanent Fund $39.7 1976 Oil 10 Kazakhstan Kazakhstan National Fund $38.6 2000 Oil 6 South Korea Korea Investment Corporation $37 2005 Non-Commodity 9 Malaysia Khazanah Nasional $36.8 1993 Non-Commodity 4 Ireland National Pensions Reserve Fund $33 2001 Non-Commodity 10 Brunei Brunei Investment Agency $30 1983 Oil 1 France Strategic Investment Fund $28 2008 Non-Commodity n/a Iran Oil Stabilisation Fund $23 1999 Oil 1 Chile Social and Economic Stabilization Fund $21.8 1985 Copper 10 Azerbaijan State Oil Fund $21.7 1999 Oil 10 UAE – Dubai Investment Corporation of Dubai $19.6 2006 Oil 4 Canada Alberta’s Heritage Fund $14.4 1976 Oil 9 US – New Mexico New Mexico State Investment Council $13.8 1958 Non-Commodity 9 UAE – Abu Dhabi Mubadala Development Company $13.3 2002 Oil 10 New Zealand New Zealand Superannuation Fund $12.1 2003 Non-Commodity 10 Bahrain Mumtalakat Holding Company $9.1 2006 Oil 8 Brazil Sovereign Fund of Brazil $8.6 2009 Non-Commodity TBA Oman State General Reserve Fund $8.2 1980 Oil & Gas 1 Botswana Pula Fund $6.9 1994 Diamonds & Minerals 6 East Timor Timor-Leste Petroleum Fund $6.3 2005 Oil & Gas 6 Saudi Arabia Public Investment Fund $5.3 2008 Oil 3 China China-Africa Development Fund $5.0 2007 Non-Commodity 4 US – Wyoming Permanent Wyoming Mineral Trust Fund $4.7 1974 Minerals 9 Trinidad & Tobago Heritage and Stabilization Fund $2.9 2000 Oil 8 UAE – Ras Al Khaimah RAK Investment Authority $1.2 2005 Oil 3 Venezuela FEM $0.8 1998 Oil 1 Vietnam State Capital Investment Corporation $0.5 2006 Non-Commodity 4 Nigeria Excess Crude Account $0.5 2004 Oil 1 Kiribati Revenue Equalization Reserve Fund $0.4 1956 Phosphates 1 Indonesia Government Investment Unit $0.3 2006 Non-Commodity TBA Mauritania National Fund for Hydrocarbon Reserves $0.3 2006 Oil & Gas 1 UAE – Federal Emirates Investment Authority n/a 2007 Oil 2 Oman Oman Investment Fund n/a 2006 Oil TBA UAE – Abu Dhabi Abu Dhabi Investment Council n/a 2007 Oil TBA Total Oil & Gas Related $2,463.0 Total Other $1,792.9 TOTAL $4,255.9

*This includes the oil stabilization fund of Russia.
**This number is a best guess estimation.
***All figures quoted are from official sources, or, where the institutions concerned do not issue statistics of their assets, from other publicly available sources. Some of these figures are best estimates as market values change day to day.
Updated March 2011

Eric D. Schwerin

Rosemont Seneca Partners, LLC

1010 Wisconsin Ave., NW

Suite 705

Washington, DC 20007

(202) 333-1880

eschwerin@rosemontseneca.com

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