Norway Fund Bought Tera-Run Turkey IPO That Plunged in Weeks
THE SO WHAT
A flagship sovereign fund getting caught in a Tera-run IPO that collapsed within weeks is a reminder that governance and local brokerage risk can swamp fundamentals in some markets. If you’re raising or deploying capital in higher-fragility jurisdictions, underwrite counterparty and regulatory risk as hard as you underwrite the business.
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