Abu Dhabi topped the list of cities globally in terms of the value of assets managed by its sovereign funds, amounting to approximately $1.7 trillion, as of October 2024.
According to consulting firm Global SWF, the funds include assets managed by Abu Dhabi Investment Authority (ADIA), Mubadala, Abu Dhabi Investment Council (ADIC), and ADQ. ), Lunate, Abu Dhabi Fund for Development (ADFD), Tawazun, and the Emirates Investment Authority (EIA).
The Emirate of Abu Dhabi is also home to several other asset managers, including public pension funds and family offices linked to members of the ruling family. Global SWF estimates indicate that the emirate has general capital assets of about $2.3 trillion, and it is expected to reach $3.4 trillion by 2030.
Sovereign funds in Abu Dhabi are not only “the largest in size, but also the most active in the region and the world,” according to the consulting company’s report issued today, Tuesday. During the first nine months of this year, the “ADIA”, “Mubadala” and “Holding” funds invested about 36… Billion dollars through concluding deals around the world, representing two-thirds of what all Gulf sovereign funds invested, and 26% of what all sovereign funds invested globally in that period.
In second place in the Arab world and fifth in the world, the Saudi capital, Riyadh, came with sovereign assets under management amounting to $1.119 trillion, the lion’s share of which is for the Public Investment Fund, whose assets the Sovereign Wealth Fund Institute estimates at about $925 billion, and which is considered one of the fastest growing sovereign funds around the world since Announcing the “Kingdom’s Vision 2030” about 8 years ago.
The Saudi sovereign fund aims to raise the assets under management to more than 4 trillion riyals next year, with the new sectors accounting for 21% of these total assets. In parallel with raising its new local investments to a minimum of 150 billion riyals annually.
During the past year, the Fund doubled the value of its investment portfolio aimed at developing and developing promising sectors to 943 billion riyals, which reflects a strategic move towards enhancing its role in achieving economic transformation and diversifying the Kingdom’s sources of income away from dependence on oil.
In second place globally, the Norwegian capital, Oslo, is home to the largest sovereign fund in the world, “Norges Bank Investment Management” (NBIM), with assets worth about $1.66 trillion. Beijing ranked third with its sovereign fund CIC, which manages assets worth $1.34 trillion.
Singapore ranked fourth, with its two sovereign funds, GIC and Temasek, managing assets worth $1.135 trillion.
After Riyadh, Hong Kong came sixth, as it hosts China’s second sovereign fund, SAFE IC, which manages assets worth $1.106 trillion.
The “Global SWF” report noted that these six cities include sovereign funds that own two-thirds of the total wealth held by sovereign funds in the world at the present time, equivalent to about 12.5 trillion dollars.
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