Abu Dhabi Tops Global Sovereign Wealth Fund Rankings with $1.7 Trillion in Assets

UAE, 09 October, 2024 : Abu Dhabi has emerged as the leading city for managing Sovereign Wealth Funds (SWFs) globally, with assets totaling $1.7 trillion. This significant capital is managed by several SWFs headquartered in the UAE capital, including the Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company (MIC), Abu Dhabi Developmental Holding Company (ADQ), and the Emirates Investment Authority (EIA).

According to Global SWF, which released a new report on the global ranking of cities based on SWF capital, Abu Dhabi now ranks slightly above Oslo. Although Oslo is home to the world’s largest SWF, the Government Pension Fund (GPF), managing over $1.6 trillion, Abu Dhabi's total puts it at the forefront.

Following Abu Dhabi and Oslo in the rankings are Beijing, Singapore, Riyadh, and Hong Kong. Together, these six cities account for two-thirds of the global capital managed by SWFs, which amounts to $12.5 trillion as of October 1, 2024.

Over the past few decades, Abu Dhabi has built a robust portfolio of institutional investors, making it a hub for significant deal-making activities. The emirate also hosts various other asset owners, including central banks, pension funds, and family offices linked to the Royal Family, with total public capital estimated at $2.3 trillion—projected to reach $3.4 trillion by 2030.

Abu Dhabi is also recognized as the "Capital of Capital," leading in human capital with 3,107 personnel employed by local SWFs. Diego López, Founder and Managing Director of Global SWF, highlighted the report's insights into the concentration of SWFs in key financial hubs and the evolving landscape of managed capital worldwide.

Source : www.zawya.com