Abu Dhabi now manages more sovereign wealth fund (SWF) capital than any other city, surpassing Oslo, according to Global SWF’s latest report. The UAE capital oversees $ 1.7 trillion in assets through funds such as the Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company (MIC), Abu Dhabi Developmental Holding Company (ADQ), and the Emirates Investment Authority (EIA).
Oslo, home to the Government Pension Fund (GPF), which holds over $1.6 trillion, ranks second, followed by Beijing, Singapore, Riyadh and Hong Kong. Collectively, these six cities manage two-thirds of the world’s SWF assets, amounting to $12.5 trillion as of October 2024.
Abu Dhabi’s broader public capital, which includes other institutional investors, is estimated at $2.3 trillion and is projected to grow to $3.4 trillion by 2030. It also leads in human capital, employing 3,107 staff across its SWFs.
“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,” said Diego López, Founder and Managing Director of Global SWF. “This report offers valuable insights into the landscape of SWF-managed capital and shows that it is shifting and expanding in certain cities in the world.”
