introduction
introduction
Over the past two decades, the boundaries between the public sector and institutional investing have been blurring with the growth of sovereign investors. Sovereign wealth investors (including public pension funds, sovereign funds, and state-owned enterprises) are strong and discreet representatives of the heterogeneous matrix of institutional investors which support capitalism as we know it today. With assets amounting to over $15 trillion, sovereign wealth funds (SWFs) , yet, little is known about them. SWFs became more prevalent in the global finance during the Great Crisis of 2008, when they saved multiple Western core financial institutions.
Since then, SWFs from the Middle East, China, Singapore or Africa, have sophisticated their investment strategies. This research program helps better understand this critical long-term investor group and the transformative role SWFs might play on central areas such as technology disruption, sustainable finance, economic development and corporate governance.
The program produces an Annual Report on Sovereign Wealth Funds, peer-reviewed papers in top academic journals and academic book chapters. Activities include an Annual Conference Agents of Change: Sovereign Wealth Funds, closed-door Seminars with regional and industry, open conversation spaces with sovereign wealth stakeholders and training programs on sovereign wealth strategies.
- Publications
The 2026 edition of the Sovereign Wealth Funds report highlights the growing strategic role of sovereign investors in an increasingly fragmented and competitive global economy. As governments seek greater resilience and autonomy, sovereign wealth funds are becoming key actors in areas such as AI, digital infrastructure, electrification, and renewable energy.
Sovereign Wealth Funds assets under management surpassed a record $15.1 trillion in 2026, up from $13.2 trillion in the previous edition. While sovereign investors participated in fewer transactions during the period analyzed, the total value of direct investments increased significantly, reflecting a shift toward larger, more strategic, and more influential deals.
The report highlights the acceleration of sovereign investment in AI-related sectors, including data centers, advanced technologies, and energy infrastructure. One out of every three dollars invested by sovereign funds during the period analyzed was linked to AI and digital transformation, particularly through investments led by Gulf and Singaporean funds.
Asia-Pacific and the Middle East continue to dominate the sovereign investment landscape, accounting for nearly 80% of global sovereign assets under management. At the same time, Europe is consolidating a more strategic sovereign investment model focused on industrial policy, economic resilience, and strategic autonomy, supported in part by Next Generation EU mechanisms.
Finally, the report analyses sovereign investment activity in Spain, which continues strengthening its position as one of Europe’s leading destinations for sovereign capital, particularly in sectors such as renewable energy, digital infrastructure, technology, and higher education.
Op-Eds
Op-Eds
Videos
Videos
Research team
Research team
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In partnership with
Events
Events