GIC claims 'hundreds of millions of dollars are missing' from Cayman Islands fund

Pedro Gonçalves
clock • 2 min read

Gulf Investment Corporation (GIC), a financial institution owned by six Gulf states, claims "hundreds of millions of dollars are missing" from the Port Fund L.P. and is asking a US court to subpoena a dozen banks in New York as part of a potential lawsuit against the Cayman Islands-based company. The Port Fund L.P. is a Cayman Islands-based exempted limited partnership and was set up in 2007 to invest in "port-related assets around the world". The GIC has asked for "documents and information" regarding US dollar transactions between "Port Fund companies" and lobbying and public relati...

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