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Panama’s Sovereign Wealth Fund Trades IOUs for Bonds - and Gains Room to Move

10th October, 2025

Panama’s Fondo de Ahorro de Panamá (FAP) has quietly undergone a major structural upgrade. The sovereign wealth fund exchanged a portfolio of non-tradable government promissory notes for liquid Republic of Panama bonds, thereby turning paper promises into real, marketable assets.

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What SWF leaders are saying about the world economy

8th October, 2025

Across the biggest sovereign wealth funds, leaders have reached a common view of 2025: the world is at the beginning of a long period of uncertainty in which debt, deglobalization and geopolitics keep volatility elevated, while technology - especially AI - creates durable pockets of growth.

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PIF’s first euro green bond: What this means for Saudi debt issuance

7th October, 2025

Saudi Arabia’s Public Investment Fund is lining up its first euro-denominated green bond, split into three- and seven-year tranches with Crédit Agricole CIB, JPMorgan and Société Générale running the books.

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Sweden’s AP Funds Merger: Mounting Concerns Over Government Approach

3rd October, 2025

On 30 September 2025 the government’s special investigator delivered an interim report on how to transfer Sjätte AP-fonden (AP6) into Andra AP-fonden (AP2).

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Rewiring Malaysia’s State Capital: Khazanah, EPF, KWAP and Sarawak

2nd October, 2025

Malaysia is entering a new phase of state-capital management, deploying the capital of state-owned investors to a range of sectors that will drive the Southeast Asian economy’s future growth.

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KIC’s First Korean Private Equity Mandates: Strategy, Catch-Up, or Both?

24th September, 2025

The US$206.5 billion Korea Investment Corporation (KIC) is about to award its first mandates to domestic private equity managers. According to industry sources, the sovereign wealth fund will commit between US$100-200 million to two or three Korean firms.

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Türkiye Wealth Fund: 2024 performance, 2025 strategy, and the road ahead

19th September, 2025

Türkiye Wealth Fund (TWF) closed 2024 with larger scale, stronger margins, and ample liquidity - setting up a more confident funding strategy through 2025.

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NZ Super’s FY25: Solid gains, sober tone - and a clearer steer on where it’s heading

10th September, 2025

The New Zealand Superannuation Fund (NZ Super) ended the year to 30 June 2025 with an 11.84% pre-tax return after costs, lifting assets to NZ$85.1 billion (US$50.5 billion) and adding NZ$8.4 billion (US$5.0 billion) over the year.

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NPS mid-2025: Solid Returns, Currency Volatility, and a Strategic Tilt

9th September, 2025

South Korea’s National Pension Service (NPS) posted a +4.08% money-weighted return in the first half of 2025, generating KRW 49.8 trillion (US$36.9 billion) of investment income.

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Global Buyers Line Up for US$1bn TWF Bond, Validating a Programmatic Approach

8th September, 2025

Turkey’s sovereign wealth fund has made a bold return to the dollar market.

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Temasek’s Three-Arm Split: Faster, Sharper, and Built for the Next Cycle

21st August, 2025

Singapore’s Temasek is evaluating a huge overhaul, carving the group into three focused investment arms - Domestic Temasek Portfolio Companies (TPCs), Global Direct, and Funds/Asset Management - to tighten accountability and lift returns.

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Mubadala’s Public Equity Strategy: Chips, Credit, and Crypto

18th August, 2025

Mubadala’s US-listed equity footprint continues to be defined by a single, sovereign-scale anchor with a widening range of strategic investments.

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