Abu Dhabi: Mr. Kris Panday, the Canadian Ambassador to the UAE, has welcomed the launch of the Canada-UAE Sovereign Wealth Fund Council (SWFC).
The initiative will serve as a catalyst for empowering multiple constituents from both Canada and the UAE to strategically develop and collaborate on investments globally.
The council will organise discussions with senior leadership from Canadian PPFs and UAE SWFs to promote a governance framework and outline shared alignment and overarching criteria for the development of potential co-investment strategies.
Mr. Panday will serve as Chief Co-Patron of the SWFC along with Mr. Fahad Saeed Al Raqbani, the UAE Ambassador to Canada.
“The mission of the SWFC is to harness the synergies between Canada and the UAE’s preeminent institutional investors to deliver superior risk-adjusted returns in support of common interests,” the Ambassador shared.
Mr. Panday further noted that “the SWFC will help identify opportunities for strategic capital collaboration and thought leadership between Canadian public Pension Funds (PPFs) and UAE Sovereign wealth funds (SWFs) in global markets. It is designed to offer an investment collaboration framework that has a more dynamic and flexible structure, benefiting Canada and the UAE as two key investment partners.”
According to Ambassador Al Raqbani, “this partnership paves the way for further cooperation that will impact the global financial outlook in the future. It is not only a strategic opportunity but also a shared responsibility in constructing a more sustainable and equitable future for all.”
Mr. Shezad Rokerya, who has been appointed as Senior Advisor to Ambassador Panday and will serve as Chairman of the SWFC, remarked that “the top six Canadian PPFs and UAE SWFs cumulatively manage over US$3 trillion in assets. The SWFC will enable these stakeholders to jointly develop investment strategies and deploy capital globally in a transformative and impactful manner to achieve significant value creation.”