Abu Dhabi emerged as the leading city that manages the most sovereign wealth fund capital globally at $1.7 trillion, as of October 2024. This capital is managed by various sovereign wealth funds including the Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company (MIC), Abu Dhabi Developmental Holding Company (ADQ), and the Emirates Investment Authority (EIA).
Abu Dhabi overtakes Oslo’s top spot
The latest report from Global SWF reveals that Abu Dhabi now ranks slightly above Oslo, home to the world’s largest sovereign wealth fund. Oslo’s Government Pension Fund (GPF) currently manages over $1.6 trillion in assets.
Following Abu Dhabi and Oslo came Beijing, Singapore, Riyadh and Hong Kong. Together, these six cities manage two-thirds of sovereign wealth fund capital globally which amounted to $12.5 trillion in October.
“The world ranking confirms the concentration of sovereign wealth funds in a select number of cities, underscoring the significance of these financial hubs on the global stage,” stated Diego López, founder and managing director of Global SWF.
In the first three quarters of 2024, ADIA, Mubadala and ADQ invested $36 billion in deals across the world. That is two-thirds of what all Gulf sovereign wealth funds invested, and 26 percent of what all sovereign wealth funds globally invested.
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Public capital to reach $3.4 trillion by 2030
For the past few decades, Abu Dhabi has grown an impressive portfolio of institutional investors, which are among the world’s largest and most active dealmakers. In addition to its sovereign wealth funds, the emirate is home to several other asset owners. This includes the central banks and pension funds.
In total, Global SWF estimates Abu Dhabi’s public capital at $2.3 trillion. The company also expects this capital to reach $3.4 trillion by 2030.
Abu Dhabi, often referred to as the ‘Capital of Capital’, also leads when it comes to human capital. The number of personnel working for sovereign wealth funds reached 3,107 staff.
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