PRESS: ‘Big six’ SWFs dominate direct investing

The 2024 edition of the Sovereign Wealth Funds Report, produced by the Center for the Governance of Change, was featured in a recent article by Danielle Myles for FDI Intelligence of the Financial Times. The article spotlights the growing dominance of six leading sovereign wealth funds (SWFs) from the Middle East and Singapore in global direct investment activity.

Between January 2023 and June 2024, these six funds — Singapore’s Temasek and GIC, Abu Dhabi’s Mubadala and ADIA, Qatar’s QIA, and Saudi Arabia’s PIF — accounted for 81% of all direct investments by SWFs and 92% of total deal value, according to the report. Myles highlights how these funds are moving beyond traditional portfolio strategies to play an increasingly strategic role in global foreign direct investment flows.

The article also explores the shifting geography of SWF investments, with India, Saudi Arabia, China, the UAE, and Brazil emerging as key destinations. The report notes India’s continued rise as a top target market, bolstered by the presence of its own sovereign catalyser fund, and underscores the dual role of some SWFs in both outbound and inbound capital flows.

The full article is available on FDI Intelligence here.