The focus of Monday's discussions will be the university's endowment fund, worth about 4.2bn. The fund was set up to ensure the organisation's long-term financial security and is managed by the University of Cambridge Investment Management Limited (UCIM), a private company owned by the university. The company operates as a fund of funds a complex financial structure that means its money is spread across a wide range of sectors and overseen by an investment manager.
Merz said Berlin also wants a closer security partnership with New Delhi, including deeper "cooperation between our defence industries" to cut India's traditional dependence on Russia for military hardware. Merz began his two-day India visit -- his first to Asia since taking office in May -- two weeks ahead of an EU-India summit and as India and the European bloc are working on a free trade agreement.
Guillaume Faury, chief executive of Airbus, Roberto Cingolani, chief executive of Leonardo and Patrice Caine, chief executive of Thales, said in a joint statement that the new company marked a pivotal milestone for Europe's space industry. By pooling our talent, resources, expertise and R&D capabilities, we aim to generate growth, accelerate innovation and deliver greater value to our customers and stakeholders, they said.
