Taking equity for public support is normal — keeping it is the novelty

Chrysler warrants → TARP → UK bank stakes → the proposed standing condition (orange = retained)

Sources: NBIM (GPFG), Alaska Permanent Fund Corp & PFD Division, Temasek/GIC, Australia Future Fund, Saudi PIF annual reports. Fund simulator calibrated to GPFG long-run real return. See SOURCES.md.