In brief: Key Middle East investors unhappy with SoftBank Vision Fund

• The two biggest outside investors in the US$100 billion SoftBank Vision Fund are allegedly complaining about the high prices paid for some tech companies.
• The investors, Saudi Arabia’s Public Investment Fund (PIF) and Abu Dhabi’s Mubadala Investment, have contributed almost two-thirds of the Vision Fund’s pledged capital.
• PIF is reportedly concerned about SoftBank’s practice of investing in companies first and later transferring the stakes to the Vision – often at a higher price.
• The investors also pointed out SoftBank CEO Masayoshi Son’s influence and control over investment decisions, where he can overrule fund executives. “The fund’s decision-making process is chaotic, often leading to last-minute reversals,” said people familiar with the matter.

Source: Wall Street Journal