Want some money? How about $7.5bn, no questions asked? Abu Dhabi Investment Authority’s capital injection to Citigroup is not quite that straightforward. But ADIA is the latest sovereign wealth fund to write a huge cheque for an American company while keeping a low profile. Och-Ziff and Blackstone Group, the alternative asset managers, and the chipmaker AMD have all recently received similar investments.

Why pour money into institutions in the land of “no taxation without representation” without more, well, representation? In ADIA’s case, the 11 per cent coupon and low strike price on the equity units must help. The terms are eerily similar to those Prince Alwaleed bin Talal secured when he helped Citi out in 1991. He he also agreed to minimal influence to prevent political backlash.