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Korea's NPS and Saudi Arabia's PIF Look to AI Revolution

19th March, 2024

The height of the pandemic saw sovereign investors plunge capital into e-commerce and logistics real estate, but today the biggest focus of their tech investments is artificial intelligence and machine learning – and this month has seen a surge in activity among state-owned investors.

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Sarawak SWF Set to Secure Oil-Rich Malaysian State's Future

18th March, 2024

The eastern Malaysian state of Sarawak’s sovereign wealth fund has appointed its first CEO as it embarks on its mission to build long-term savings for the resource-rich state.

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CPP Boosts Commitment to Digital Infrastructure with Partners

14th March, 2024

Canada’s biggest public pension fund CPP Investments committed hundreds of millions of US dollars into digital network infrastructure this month as it seeks to gain exposure to the growing demand in connectivity and data-rich content.

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Real Estate Drags OTPP Down For a Second Year

13th March, 2024

Ontario Teachers’ disappointing return of 1.9% in 2023 represents a negative value add of C$15.8 billion, dragged down by poor performance in real estate and infrastructure.

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Abu Dhabi Launches Mega Tech Investor the Size of SoftBank’s Vision Fund

12th March, 2024

The building of national champions with global reach is a major theme of strategic sovereign wealth funds in the Gulf region. Abu Dhabi’s launch of a global tech investment firm on a scale of SoftBank’s first Vision Fund, backed by Abu Dhabi’s Mubadala and native AI firm G42, ramps up the rivalry between the Emirate and initiatives backed by Saudi Arabia’s Public Investment Fund (PIF).

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Khazanah Profits Boosted by Malaysian Airlines Rebound

11th March, 2024

As it approaches its 30th anniversary, Malaysia’s sovereign wealth fund, Khazanah, tripled its profit to MYR5.9 billion (US$1.26 billion) in 2023, boosted by dividends from its portfolio companies, with MYR1 billion passed on to the government.

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PIF Uses Aramco Stake as Springboard to US$1trn AUM in 2025

8th March, 2024

Saudi Arabia’s Public Investment Fund (PIF) is marching towards its end-2025 target of US$1 trillion with a further 8% stake in Aramco transferred to its portfolio by the government, in order to fund the Kingdom’s aggressive economic diversification program.

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Abu Dhabi and France SWFs Firm Up African Tech VC Commitments

7th March, 2024

Sub-Saharan Africa is the final frontier for state-owned investors (SOIs), offering potential large rewards – but also significant challenges. For patient investors capable of honing in on good deals, the region offers significant long-term returns that could generate big yields, as well as demonstrating their commitment to sustainable development goals.

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Singapore's Temasek is a Trailblazer in AI Startups

6th March, 2024

Singapore’s Temasek continues to mark itself as a trailblazer among state-owned investors in the tech space as it enters discussions to invest in AI company OpenAI.

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PIF Forges Bahrain Alliance, While Qatar’s QIA Explores Central Asia

5th March, 2024

Gulf states have tended to use soft power to gain geopolitical influence via economic and cultural relations, particularly in the MENA and Central Asian regions. The cold war within the GCC has subsided with a deal between Doha and a Saudi-led alliance over Qatar’s alleged closeness to the Muslim Brotherhood. Yet, rivalries are still heated and they are vying for regional influence and at a time of heightened geopolitical sensitivities, with this week seeing Saudi Arabia cement its ties with Bahrain via their sovereign funds while Qatar's QIA is deepening its exposure to Uzbekistan.

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Korea's NPS Deployed to Prop Up Undervalued Domestic Stocks

4th March, 2024

South Korea’s massive US$800 billion National Pension Service (NPS) could be reversing its global diversification push with reports that it will plunge KRW11 trillion (US$8.2 billion) into domestic public equities, after reporting its best ever annual return.

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Fund of the Month (Mar'24): Druk Holding & Investment (DHI)

1st March, 2024

With a population of less than a million people, Bhutan is known for its mountains, monasteries, and the thunder dragon (“druk”) featured in its flag. Its Sovereign Wealth Fund, Druk Holding & Investment (DHI), manages some of the country’s national champions and also invests in international securities and digital assets. We had the pleasure of speaking with its CEO, Mr. Ujjwal Deep Dahal, about the fund’s strategy and future objectives.