Public Investment Fund and Mubadala, which put up a total of $60bn for the first Vision Fund, are reportedly looking to downgrade their exposure to the second vehicle, as We Company postpones its IPO.

Middle Eastern sovereign wealth funds Public Investment Fund (PIF) and Mubadala are considering reducing planned investments in telecommunications firm SoftBank’s second Vision Fund, Bloomberg reported yesterday. SoftBank raised $98.6bn for the first Vision Fund and revealed memoranda of understanding for $108bn of contributions from prospective limited partners and its own cash reserves in July this…

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