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Gulf SWFs And The Iran War: Three-Month Scenario Update

5th June, 2026

Three months into the Iran war, the Gulf is no longer in the first shock phase, but it is not back to normal. Energy flows have partly adapted, sovereign funding markets remain open, and the largest Gulf SWFs are still deploying capital.

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New Sub-Saharan Sovereign Funds Shift Toward Minerals, SOEs And Asset Recycling

4th June, 2026

Sub-Saharan African governments are creating new sovereign funds from fiscal stress, commodity swings, public asset sales and the reorganisation of state balance sheets.

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Korea’s New Fund Moves From Public-Asset Idea To State Equity Test

3rd June, 2026

South Korea’s proposed Korea Future Investment Corporation gives the Lee Jae-myung administration a more defined state capital tool than the sovereign fund outlined in December.

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Sovereign Capital Moves Into Anthropic’s US$965bn AI Platform

2nd June, 2026

Anthropic’s US$65 billion Series H further integrates GIC, Temasek, and MGX into the private ownership of large-model AI.

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Fund of the Month (Jun'26): UK's Border to Coast Pensions Partnership

1st June, 2026

On April 1, 2026, Border to Coast Pensions Partnership became the UK’s largest, and Europe’s sixth largest institutional investor, with US$ 158 billion in assets. We were delighted to speak with its Chief Investment Officer (Mr. Joe McDonnell) and its Chief Stakeholder Officer (Mr. Ewan McCulloch), about the fund’s growth, the current strategy to put that capital to work, and the outlook.

NPS Turns Korean Equity Rally Into Allocation Policy

29th May, 2026

South Korea’s National Pension Service has turned its domestic equity problem into allocation policy, as it tries to balance political objectives with its commercial mandate while having considerable heft in local markets.

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Mubadala Realises US$3 Billion From GlobalFoundries Rally

28th May, 2026

Mubadala has realised more than US$3 billion from GlobalFoundries in less than one quarter and yet still controls the strategically important semiconductor producer.

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SpaceX IPO Would Put Gulf State Capital’s Musk Exposure Into Public View

27th May, 2026

A SpaceX IPO would set a public reference price for Gulf state-capital positions in Elon Musk’s companies, as well as shine a light on Gulf ambitions in AI.

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ICD’s Record Year Puts Dubai’s Operating Companies At The Centre Of State Returns

26th May, 2026

Investment Corporation of Dubai ‘s2025 annual report has passed with limited public attention, but it gives a rare consolidated view of Dubai’s government-owned company network.

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CalPERS Scrutiny Opens Wider Questions Over Private Markets In State-Owned Capital

25th May, 2026

A participant-funded forensic report has turned CalPERS’ private market strategy into a wider test of public capital transparency, as it accuses the largest US public pension fund of weak oversight, opaque costs, benchmark problems and incomplete disclosure of private asset economics.

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QIA Deal Moves Spain’s State Capital Plan Into Execution

22nd May, 2026

Spain is moving ahead with its state-investment plan, announced in January, to funding. The government has approved a EUR13.3 billion (US$15.4 billion) injection into the Official Credit Institute (ICO) for España Crece, while COFIDES is the Co-investment Fund (FOCO) to bring Qatar Investment Authority (QIA) into a EUR300 million (US$348 million) growth fund for Spanish companies.

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Syria’s New Sovereign Fund Puts State Assets At The Centre Of Reconstruction

21st May, 2026

Syria is building new institutions around reconstruction assets, donor funding and foreign investment in an effort to rebuild after years of a devastating civil war, despite the fragility of domestic governance.

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