Assets of SWFs Reach $13 Trillion Globally in 2024
State-Owned Investors reached a historical peak of assets under management, thanks to market returns and sustained high oil prices. Sovereign Wealth Funds (SWFs) across the world now manage $13 trillion registering a growth of +6.1%, and Public Pension Funds (PPFs) balance sheets stood at $25 trillion, growing by 6% in 2024.
According to a report by Global SWF, which tracks the world’s sovereign investment funds, deal activity also increased from last year to $216.6 billion (+5.3%) in 585 deals (-2.2%) while average tickets size of $370 million is the highest in the past six years.
Mubadala was the top spender this year, with $29.2 billion, up from $17.5 billion invested in 2023, in 52 deals including ADIC, Mubadala Capital, and MGX and 85% of the capital went to developed markets, the report said.
The GCC’s Oil Five (ADIA, ADQ, Mubadala, Qatar Investment Authority, and Public Investment Fund) broke every record with $82 billion invested in 2024, a rise of more than 10% from 2023, the report said.
Other groups like Canada’s Maple 8, the Singaporean funds or Australia’s supers were also more active than in 2023.
India and China continued to be popular, although investments in Emerging Markets dropped 12%. The UK and Australia increased in popularity dramatically, when compared to 2023.
Fund of Year
In that context, AustralianSuper was named “Fund of the Year” thanks to its growing activity, while the UK was named “Region of the Year” given its revamped investment landscape.
AustralianSuper continued to lead by example, demonstrating consistent performance, leadership in sustainability, and strategic growth through its overseas offices in New York and London.
AustralianSuper is the world’s 17th largest pension fund, and the largest one in the Southern Hemisphere, with $246 billion in assets under management.
Theme of the Year
The “Theme of the Year” went to Digitalisation, including Data Centres, Digital Infrastructure, AI and Space Investing, which together saw $27.9 billion of sovereign investment, the report noted and added that real estate and private equity stayed flat, while infrastructure and credit continued to rise.
The report further said that 2024 saw seven new SWFs, nine new offices overseas, 27 new CEOs and 15 new CIOs.
“The outlook for 2025 is uncertain as new governments around the world settle, but we believe State-Owned Investors will continue soaring to new heights. We expect the industry to keep growing to 2030, when it may reach $75 trillion,” the report said.
