Riyadh, UAE — Four Gulf Cooperation Council region’s sovereign wealth funds (SWFs) figured among the world’s top 10 wealth funds, according to data from SWF Institute.
Abu Dhabi Investment Authority ($853 billion) and Kuwait Investment Authority ($803 billion) ranked fourth and fifth respectively, while Saudi Arabia’s PIF was sixth in terms of assets.
ADIA invests, on behalf of the government of Abu Dhabi, in equities, bonds, real estate and infrastructure., with most of its investments concentrated in North America, followed by Europe.
The Kuwait Investment Authority (KIA) is the Middle East’s oldest — it also claims to be the world’s oldest — sovereign wealth fund, managing the state’s reserve and the state’s future generation fund (FGF).
PIFs assets reached SAR 2.635 trillion $700 billion in June, increasing by $50 billion, compared to $650 billion in April.
As per PIF’s five-year strategy, it targets boosting its assets to more than SAR 4 trillion ($1.07 trillion) by 2025. Crown Prince Mohammed bin Salman, who is chairman of the fund, earlier said that the PIF targets to grow its assets to SAR 10 trillion by 2030 ($2.7 trillion).
With assets of over $475 billion, Qatar Investment Authority ranked 10th, according to SWF Institute data.
Norway’s Government Pension Fund Global ranked first with $1.37 trillion assets, followed by China Investment Corp ($1.350 trillion) and China’s SAFE ($1.019 trillion).
The aggregate assets of the world’s SWFs hit about $11.57 trillion, up from $10.47 trillion in April, 2023.