Recently Carlyle Group’s prominent CEO David Rubenstein reportedly said that Sovereign Wealth Funds (SWF) may become the largest source of PE capital in the coming years, replacing other types of public investors, such as US pension funds as the dominant players. Whether he is right about the prediction or not, both pension funds and SWFs are important to the PE ecosystem. They provide capital to LPs and they have also been increasingly making large direct PE investments, such as deals done recently by Canada’s Public Sector Pension Investment Board (CPPIB) and Abu Dhabi Investment Authority.
For these reasons, the latest rankings from Sovereign Wealth Fund called Public Investor 100 is of interest. It is worth noting that six out of the top ten are SWFs. Number one this year is Abu Dhabi Investment Authority, a SWF that has been in the news quite a bit of late due to the amount it has invested in the past year.
But the size of the assets under management and activity levels are not the only criteria, says the ranking’s creator, influence and trendsetting ability were also considered. Number three and four are also SWFs. Other SWFs that made it in the top ten are Temasek, NBIM, Qatar Investment Authority, China investment Corp. (Image source: SWF Institute)