​NUSACC CO-SPONSORS SOVEREIGN WEALTH FUND CONFERENCE
AT AMERICAN UNIVERSITY 

Executive Vice President Gordon Gray Delivers Keynote Address on
Future Prospects for Sovereign Wealth Funds in the Middle East  

Carlyle CEO David Rubenstein: "Today, you're not taken seriously in
the global markets if you don't have a sovereign wealth fund"

Washington, DC - The National U.S.-Arab Chamber of Commerce (NUSACC) co-sponsored American University's third annual conference on Sovereign Wealth Funds (SWFs).  One hundred business leaders and academics attended the conference, which assessed how global changes are affecting SWFs and whether SWFs will survive a prolonged commodity price weakness.  In his opening remarks, Dr. Ghiyath Nakshbendi, the driving force behind the annual conference, recognized NUSACC and characterized the Chamber as "one of the most powerful organizations in Washington D.C."

Ambassador (ret.) Gordon Gray, NUSACC Executive Vice President

"The Chamber is pleased to support our continued partnership with The American University, including the Kogod School of Business, and we commend Dr. Nakshbendi for his leadership," noted NUSACC President & CEO David Hamod.  "While SWFs are an integral part of Middle East economies, they are not always well understood.  This annual conference sheds valuable light on the importance of SWFs in the U.S. - Arab relationship."
 
Participants heard keynote addresses by David Rubinstein, Co-Founder and Co-CEO of the Carlyle Group, and Ambassador (ret.) Gordon Gray,NUSACC's Executive Vice President.  In his remarks, Gray noted that seven of the fourteen largest SWFs are located in the Arabian Gulf and that they play an important role in sustaining the long-term prosperity of America's Gulf Cooperation Council partners.  Commenting on the theme of the conference -- whether SWFs could survive dropping oil prices -- Gray said, "I would anticipate that SWFs will survive.  In fact, I would say that the decrease in the price of oil actually makes SWFs more important than ever."
 

The Carlyle Group's David Rubinstein emphasized the importance of SWFs and their ability to influence global markets.  Having a SWF is seen as a sign of success, and every nation aspires to have one, he suggested.  In order for the most effective investments to be made, he stressed, SWFs should remain free from undue political pressure and the entanglement of foreign policy.
 
In addition to the keynote addresses, panel members discussed the most effective types of investments and the role of SWFs in times of budget deficits.  Among the panelists who spoke at the conference were: President of the Qatar Investment Authority, H.E. Mohammed Saif Al Sowaidi; Vice Chairman of Mercury, Ambassador (ret.) Adam Ereli; and the Deputy Division Chief of the International Monetary Fund, Dr. Michael Papaioannou.

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David Rubinstein, Carlyle Group Co-Founder