Sovereign Wealth Funds

2023: World's largest state investment funds named

At the end of 2023, state investment funds (sovereign wealth funds) on a global scale made investments totaling approximately $124.7 billion. This is 20% less than the result for the previous year, when the figure was $155.8 billion. Such figures are reflected in a report by Global SWF, a research consultancy, published in early January 2024.

It is said that during 2023, sovereign funds carried out 324 investment transactions, which is a quarter (24%) less than a year earlier. At the same time, the average value of such transactions amounted to $385 million. Analysts note that in the current macroeconomic situation, funds began to use a more cautious approach to allocating funds.

The largest state investment fund in the world in 2023 was the Sovereign Fund Saudi Arabia (PIF), which invested $31.6 billion in 49 transactions, which is 33% more than in 2022. In second place is the Singapore National Wealth Fund (GIC) with a result of $19.9 billion, and the Company Sovereign Investment Fund closes the top three UAE Mubadala Investment - $17.5 billion.

The top ten also includes the Abu Dhabi Abu Dhabi Investment Authority Sovereign Wealth Fund with $13.2 billion, Canadian Pension Program with $9.4 billion, British Columbia Investment Management Corporation in Canada with $7.3 billion, Singapore Investment Corporation Temasek with $6.4 billion, Qatar National Wealth Fund with $5.9 billion, The sovereign wealth fund ADQ in Abu Dhabi with $5.8 billion and the Ontario Pension Plan in Canada with $5.3 billion.

In 2023, we saw a significant degree of volatility, and sovereign investors continued to tread carefully. At the same time, the average size of transactions continued to grow, as investors preferred large projects in the field of infrastructure and power, the study says.[1]

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