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Oman sovereign wealth fund's total assets rise to $49.9 bn in 2023

VCCircle

VCCircle · 1y ago

Oman sovereign wealth fund's total assets rise to $49.9 bn in 2023

Oman's sovereign wealth fund, Oman Investment Authority, reported that its assets increased to $49.9 billion at the end of 2023, up from $17.2 billion the previous year. The fund recorded a profit of over $4.4 billion and contributed $2.1 billion to the state's general budget. Its assets include state-owned companies in various sectors such as energy, aviation, maritime, and telecommunications.

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Norway wealth fund posts record $213 bn profit as tech stocks soar

VCCircle

VCCircle · 1y ago

Norway wealth fund posts record $213 bn profit as tech stocks soar

Norway's sovereign wealth fund, the world's largest, reported a record profit of $213 billion in 2023, driven by strong returns on its investments in technology stocks. Tech stocks contributed significantly to the fund's returns, accounting for half of the total. The fund's most valuable company stakes were in Microsoft, Apple, and Nvidia. Despite concerns about inflation and global tensions, the fund's CEO believes the impact on inflation will be relatively limited, with higher energy prices being the main potential effect. The fund's assets were primarily allocated to equities (70.9%) and bonds (27.1%).

Saudi sovereign wealth fund swings to $36.8 bn profit in 2023

VCCircle

VCCircle · 1y ago

Saudi sovereign wealth fund swings to $36.8 bn profit in 2023

Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), reported a profit of $36.81 billion in 2023, a significant improvement from the previous year's loss of $15.6 billion. The fund's total revenues more than doubled to $88.3 billion, driven by enhanced investment and non-investment activities in sectors such as banking, telecommunications, and gaming. PIF, which manages around $925 billion in assets, is instrumental in realizing the economic goals outlined in Saudi Arabia's Vision 2030 plan. The fund's funding sources include retained earnings, capital injections, government assets, and loans.

ADQ, Oman Investment Authority float VC fund to make bets in buzzing MENA startup market

VCCircle

VCCircle · 1y ago

ADQ, Oman Investment Authority float VC fund to make bets in buzzing MENA startup market

Gulf sovereign wealth investors, ADQ and Oman Investment Authority, have launched a venture capital fund to support high-growth startups in the Middle East and North Africa (MENA) region. The fund aims to capitalize on the increasing interest from VC players in the MENA startup market. ADQ is based in Abu Dhabi, while the Oman Investment Authority is the sovereign wealth fund of Oman.

Mubadala's FY24 assets under management top $300 bn

VCCircle

VCCircle · 1y ago

Mubadala's FY24 assets under management top $300 bn

Abu Dhabi sovereign wealth fund, Mubadala, has reported that its assets under management increased by 9.5% in 2024 to reach $302.2 billion. The investment company highlighted its role as a global investor and its focus on sectors contributing to regional growth. Mubadala deployed $24.3 billion in various sectors including technology, renewable energy, and life sciences. The company also reported proceeds of $27 billion, which included divestments of legacy assets. The fund's portfolio mix remained relatively unchanged, with investments in private equity, public markets, and real estate and infrastructure.

Norway govt says $1.6 trillion wealth fund will not invest in private equity

VCCircle

VCCircle · 1y ago

Norway govt says $1.6 trillion wealth fund will not invest in private equity

Norway's $1.6 trillion sovereign wealth fund, the world's largest, will not be allowed to invest in private equity for now, according to the government. The fund's management had recommended allocating up to 5% of assets to private equity investments, but the government cited higher fees, lower transparency, and the need for political consensus as reasons for the decision. The finance ministry plans to establish an independent expert council for the fund to inform future decisions on issues such as investment in unlisted equities. The fund's CEO, Nicolai Tangen, had argued that the time was right for private equity investments.

GIC completes exit from India infra portfolio with over $1.5 bn in bag

VCCircle

VCCircle · 1y ago

GIC completes exit from India infra portfolio with over $1.5 bn in bag

Singapore sovereign wealth fund GIC has successfully exited its investment in an Indian infrastructure firm, earning over $1.5 billion. GIC has been an active investor in India, maintaining a diverse portfolio of listed and unlisted assets. The recent exit from the infrastructure firm marks the completion of GIC's monetization efforts in its five-year-old Indian investment.

Abu Dhabi wealth fund ADQ raises $2 bn via bond issue

VCCircle

VCCircle · 11m ago

Abu Dhabi wealth fund ADQ raises $2 bn via bond issue

Abu Dhabi sovereign wealth fund ADQ has successfully raised $2 billion through a bond issue, according to reports. The two-tranche bond sale saw strong investor demand, with order books reaching $8 billion. The offering included a $1 billion 7-year tranche at 85 basis points over U.S. Treasuries, and a $1 billion 30-year tranche at 120 bps over. ADQ intends to use the funds to diversify its funding sources for future acquisitions. The wealth fund, fully owned by the Abu Dhabi government, has over $225 billion in assets under management.

Abu Dhabi’s Mubadala overtakes Saudi Arabia’s PIF as world’s top wealth fund spender

Livemint

Livemint · 7m ago

Abu Dhabi’s Mubadala overtakes Saudi Arabia’s PIF as world’s top wealth fund spender

Abu Dhabi's Mubadala Investment Company became the top spender among sovereign wealth funds in 2024, surpassing Saudi Arabia's Public Investment Fund, with an investment of $29.2 billion. The increase reflects a broader Gulf region trend, with Abu Dhabi, Qatar, and Saudi Arabia investing a record $82 billion. Sovereign funds focused significantly on digital infrastructure and AI, marking $27.7 billion in investments. Overall, sovereign wealth assets reached $13 trillion, highlighting their growing global financial impact.

In Charts: How Middle East sovereign funds are cementing their global dominance

VCCircle

VCCircle · 1y ago

In Charts: How Middle East sovereign funds are cementing their global dominance

Middle East sovereign wealth funds, including Saudi Arabia's Public Investment Fund, increased their investment activity in 2023 and expanded their influence in the global market. These funds outpaced state-backed investors from other countries like Singapore and Canada. Saudi Arabia's sovereign wealth fund took the lead in dealmaking.

Saudi sovereign wealth fund PIF appoints new head of investment strategy

VCCircle

VCCircle · 1y ago

Saudi sovereign wealth fund PIF appoints new head of investment strategy

Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has appointed Fahd AlSaif as the new head of its investment strategy and economic insights division. With assets worth around $925 billion, the PIF has played a major role in Crown Prince Mohammed bin Salman's plans to diversify the country's economy away from oil. AlSaif will be responsible for developing the fund's overall investment strategy while also maintaining his current position as head of the global capital finance division. The PIF has already made significant investments in various projects, including the NEOM development along the Red Sea coast.

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