Export
| # | Investor | Country | Est. | Type | AuM ($b)* | Alternatives (%)** |
|---|---|---|---|---|---|---|
| 1 | PBoC | China | 1948 | CB | 3,572 | 0% |
| 2 | NBIM | Norway | 1997 | SWF | 1,800 | 2% |
| 3 | GPIF | Japan | 2006 | PPF | 1,585 | 1% |
| 4 | CIC | China | 2007 | SWF | 1,332 | 25% |
| 5 | ECB | Eurosystem | 1998 | CB | 1,319 | 0% |
| 6 | BoJ | Japan | 1882 | CB | 1,255 | 0% |
| 7 | SAFE IC | China | 1997 | SWF | 1,235 | 22% |
| 8 | ADIA | UAE - Abu Dhabi | 1967 | SWF | 1,110 | 32% |
| 9 | KIA | Kuwait | 1953 | SWF | 969 | 23% |
| 10 | SNB | Switzerland | 1907 | CB | 950 | 0% |
| 11 | PIF | Saudi Arabia | 1971 | SWF | 925 | 37% |
| 12 | FRTIB | USA | 1986 | PPF | 857 | 0% |
| 13 | GIC | Singapore | 1981 | SWF | 847 | 33% |
| 14 | NPS | South Korea | 1988 | PPF | 827 | 15% |
| 15 | RBI | India | 1935 | CB | 692 | 0% |
| 16 | CBR | Russia | 1990 | CB | 633 | 0% |
| 17 | APG | Netherlands | 1922 | PPF | 618 | 25% |
| 18 | CBC | Taiwan | 1924 | CB | 591 | 0% |
| 19 | CalPERS | USA - CA | 1932 | PPF | 532 | 18% |
| 20 | QIA | Qatar | 2005 | SWF | 510 | 41% |
| 21 | CPP | Canada | 1997 | PPF | 472 | 55% |
| 22 | SAMA | Saudi Arabia | 1952 | CB | 470 | 0% |
| 23 | NSSF | China | 2000 | PPF | 424 | 14% |
| 24 | HKMA EF | China - HKSAR | 1993 | CB | 423 | 0% |
| 25 | BoK | South Korea | 1950 | CB | 420 | 0% |
| 26 | CPF | Singapore | 1955 | PPF | 413 | 0% |
| 27 | MAS | Singapore | 1971 | CB | 390 | 0% |
| 28 | BCBr | Brazil | 1964 | CB | 372 | 0% |
| 29 | ICD | UAE - Dubai | 2006 | SWF | 360 | 65% |
| 30 | CalSTRS | USA - CA | 1913 | PPF | 352 | 33% |
| 31 | DB | Germany | 1957 | CB | 345 | 0% |
| 32 | Mubadala | UAE - Abu Dhabi | 1984 | SWF | 330 | 67% |
| 33 | CDPQ | Canada - QC | 1965 | PPF | 330 | 42% |
| 34 | GOSI | Saudi Arabia | 1958 | PPF | 320 | 33% |
| 35 | BdF | France | 1800 | CB | 288 | 0% |
| 36 | Temasek | Singapore | 1974 | SWF | 288 | 53% |
| 37 | NYC Compt | USA - NY | 1920 | PPF | 282 | 23% |
| 38 | NYSCRF | USA - NY | 1983 | PPF | 268 | 34% |
| 39 | PGGM | Netherlands | 1969 | PPF | 266 | 18% |
| 40 | BdI | Italy | 1893 | CB | 264 | 0% |
| 41 | SBA Florida | USA - FL | 1943 | PPF | 262 | 25% |
| 42 | KWSP / EPF | Malaysia | 1951 | PPF | 257 | 7% |
| 43 | Fed | USA | 1913 | CB | 251 | 0% |
| 44 | ADQ | UAE - Abu Dhabi | 2018 | SWF | 249 | 45% |
| 45 | AustralianSuper | Australia | 2006 | PPF | 246 | 21% |
| 46 | BoT | Thailand | 1942 | CB | 243 | 0% |
| 47 | Banxico | Mexico | 1925 | CB | 231 | 0% |
| 48 | BoI | Israel | 1954 | CB | 220 | 0% |
| 49 | NBP | Poland | 1945 | CB | 219 | 0% |
| 50 | BLF | Taiwan | 2014 | PPF | 214 | 11% |
| 51 | Future Fund | Australia | 2006 | SWF | 204 | 40% |
| 52 | CBUAE | UAE | 1980 | CB | 204 | 0% |
| 53 | ART | Australia - QLD | 2022 | PPF | 200 | 26% |
| 54 | PSP | Canada | 1999 | PPF | 196 | 53% |
| 55 | AP1-6 | Sweden | 1974 | PPF | 195 | 26% |
| 56 | BoE | UK | 1694 | CB | 194 | 0% |
| 57 | EPFO | India | 1952 | PPF | 194 | 5% |
| 58 | TVF | Turkey | 2017 | SWF | 190 | 80% |
| 59 | KIC | South Korea | 2005 | SWF | 189 | 17% |
| 60 | Texas TRS | USA - TX | 1937 | PPF | 187 | 41% |
| 61 | OTPP | Canada - ON | 1917 | PPF | 187 | 69% |
| 62 | MN | Netherlands | 2014 | PPF | 187 | 15% |
| 63 | BCI | Canada - BC | 1999 | PPF | 185 | 39% |
| 64 | CDC | France | 1816 | PPF | 182 | 4% |
| 65 | WSIB | USA - WA | 2005 | PPF | 181 | 38% |
| 66 | NDFI | Iran | 2011 | SWF | 162 | 79% |
| 67 | TCMB | Turkey | 1931 | CB | 159 | 0% |
| 68 | SWIB | USA - WI | 1951 | PPF | 156 | 16% |
| 69 | CNB | Czech Republic | 1993 | CB | 155 | 0% |
| 70 | BI | Indonesia | 1953 | CB | 150 | 0% |
| 71 | MSBI | USA - MN | 1981 | PPF | 146 | 25% |
| 72 | PIC | South Africa | 2015 | PPF | 142 | 6% |
| 73 | MPFA | China - HKSAR | 1995 | PPF | 141 | 0% |
| 74 | NYS TRS | USA - NY | 1913 | PPF | 137 | 26% |
| 75 | PIFSS-Wafra | Kuwait | 1955 | PPF | 137 | 40% |
| 76 | NWF RU | Russia | 2008 | SWF | 136 | 20% |
| 77 | NDF | Saudi Arabia | 2017 | SWF | 132 | 100% |
| 78 | BoC | Canada | 1935 | CB | 124 | 0% |
| 79 | BVK | Germany | 1995 | PPF | 124 | 47% |
| 80 | NCRS | USA - NC | 1941 | PPF | 123 | 19% |
| 81 | BNM | Malaysia | 1959 | CB | 120 | 0% |
| 82 | Aware Super | Australia | 2020 | PPF | 120 | 20% |
| 83 | AIMCo | Canada - AB | 1976 | PPF | 118 | 29% |
| 84 | PFA DK | Denmark | 1917 | PPF | 116 | 39% |
| 85 | Ohio PERS | USA - OH | 1935 | PPF | 115 | 23% |
| 86 | Virginia RS | USA - VA | 1942 | PPF | 114 | 34% |
| 87 | BSP | Philippines | 1993 | CB | 113 | 0% |
| 88 | AP7 | Sweden | 2000 | PPF | 110 | 4% |
| 89 | NPST | India | 2008 | PPF | 110 | 0% |
| 90 | MassPRIM | USA - MA | 1983 | PPF | 109 | 35% |
| 91 | Alecta | Sweden | 1917 | PPF | 109 | 22% |
| 92 | BdE | Spain | 1782 | CB | 107 | 0% |
| 93 | Georgia TRS | USA - GA | 1943 | PPF | 106 | 3% |
| 94 | ATP Groep | Denmark | 1964 | PPF | 106 | 35% |
| 95 | Chikyoren | Japan | 1984 | PPF | 105 | 1% |
| 96 | PFA JP | Japan | 1967 | PPF | 103 | 0% |
| 97 | KLP | Norway | 1949 | PPF | 100 | 16% |
| 98 | SBV | Vietnam | 1951 | CB | 100 | 0% |
| 99 | Oregon PERF | USA - OR | 1946 | PPF | 100 | 49% |
| 100 | DN | Denmark | 1818 | CB | 99 | 0% |
| 101 | Amitim | Israel | 2011 | PPF | 98 | 25% |
| 102 | OMERS | Canada - ON | 1962 | PPF | 98 | 56% |
| 103 | Michigan ORS | USA - MI | 1942 | PPF | 97 | 47% |
| 104 | Ohio STF | USA - OH | 1919 | PPF | 95 | 31% |
| 105 | NJ DoI | USA - NJ | 1950 | PPF | 95 | 28% |
| 106 | CBIraq | Iraq | 1947 | CB | 95 | 0% |
| 107 | London CIV | UK | 2015 | PPF | 93 | 17% |
| 108 | UniSuper | Australia | 2000 | PPF | 92 | 10% |
| 109 | EIA | UAE | 2007 | SWF | 91 | 21% |
| 110 | NB | Norway | 1816 | CB | 89 | 0% |
| 111 | HOOPP | Canada - ON | 1960 | PPF | 85 | 30% |
| 112 | BCRP | Peru | 1922 | CB | 83 | 0% |
| 113 | Samruk Kazyna | Kazakhstan | 2008 | SWF | 81 | 62% |
| 114 | BoA | Algeria | 1962 | CB | 81 | 0% |
| 115 | LACERA | USA - CA | 1937 | PPF | 81 | 35% |
| 116 | CBL | Libya | 1956 | CB | 81 | 0% |
| 117 | Alaska PFC | USA - AK | 1976 | SWF | 80 | 41% |
| 118 | DIF | UAE - Dubai | 2024 | SWF | 80 | 56% |
| 119 | Texas PUF | USA - TX | 1876 | SWF | 78 | 59% |
| 120 | BNR | Romania | 1880 | CB | 78 | 0% |
| 121 | Penn PSERS | USA - PA | 1917 | PPF | 75 | 35% |
| 122 | TCorp | Australia - NSW | 1983 | SWF | 75 | 12% |
| 123 | Illinois STRS | USA - IL | 1939 | PPF | 74 | 24% |
| 124 | HostPlus | Australia | 1987 | PPF | 73 | 45% |
| 125 | KEVA | Finland | 1988 | PPF | 73 | 25% |
| 126 | DNB | Netherlands | 1814 | CB | 72 | 0% |
| 127 | BCPP | UK | 2018 | PPF | 72 | 12% |
| 128 | QIC | Australia - QLD | 1991 | SWF | 70 | 29% |
| 129 | PNB | Malaysia | 1978 | SWF | 69 | 8% |
| 130 | SSO | Thailand | 1990 | PPF | 69 | 0% |
| 131 | Kokkyoren | Japan | 2017 | PPF | 69 | 0% |
| 132 | LIA | Libya | 2006 | SWF | 68 | 23% |
| 133 | Maryland SRA | USA - MD | 1941 | PPF | 68 | 30% |
| 134 | NF-NIC | Kazakhstan | 2000 | SWF | 66 | 5% |
| 135 | PKA | Denmark | 1954 | PPF | 65 | 8% |
| 136 | SRB | Sweden | 1668 | CB | 65 | 0% |
| 137 | COPERA | USA - CO | 1931 | PPF | 65 | 20% |
| 138 | SARB | South Africa | 1921 | CB | 64 | 0% |
| 139 | BanRep | Colombia | 1923 | CB | 63 | 0% |
| 140 | CBUS | Australia | 1984 | PPF | 63 | 25% |
| 141 | RBA | Australia | 1959 | CB | 62 | 0% |
| 142 | IMCO | Canada - ON | 2016 | PPF | 59 | 44% |
| 143 | SOFAZ | Azerbaijan | 1999 | SWF | 58 | 10% |
| 144 | New Mexico SIC | USA - NM | 1958 | SWF | 58 | 29% |
| 145 | NLGPS | UK | 2019 | PPF | 57 | 20% |
| 146 | Texas PSF | USA - TX | 1854 | SWF | 57 | 35% |
| 147 | HESTA | Australia | 1999 | PPF | 56 | 30% |
| 148 | Bpifrance | France | 2008 | SWF | 56 | 61% |
| 149 | REST | Australia | 1988 | PPF | 55 | 27% |
| 150 | QCB | Qatar | 1973 | CB | 53 | 0% |
| 151 | VFMC | Australia - VIC | 1994 | SWF | 53 | 30% |
| 152 | BIA | Brunei | 1983 | SWF | 53 | 18% |
| 153 | FGS | Argentina | 2008 | PPF | 52 | 0% |
| 154 | OIA | Oman | 1980 | SWF | 50 | 31% |
| 155 | PensionDanmark | Denmark | 1993 | PPF | 49 | 25% |
| 156 | PUBLICA | Switzerland | 2001 | PPF | 48 | 20% |
| 157 | PREVI | Brazil | 1904 | PPF | 48 | 5% |
| 158 | CBK | Kuwait | 1969 | CB | 47 | 0% |
| 159 | EIH | Ethiopia | 2022 | SWF | 46 | 100% |
| 160 | Bcentral | Chile | 1925 | CB | 46 | 0% |
| 161 | MNB | Hungary | 1924 | CB | 46 | 0% |
| 162 | NZ Super Fund | New Zealand | 2001 | SWF | 46 | 20% |
| 163 | KTCU | South Korea | 1971 | PPF | 45 | 56% |
| 164 | BNB | Bulgaria | 1879 | CB | 45 | 0% |
| 165 | CBE | Egypt | 1961 | CB | 45 | 0% |
| 166 | ESSS | Indonesia | 1977 | PPF | 45 | 5% |
| 167 | NBK | Kazakhstan | 1993 | CB | 45 | 0% |
| 168 | CSC | Australia | 1976 | PPF | 43 | 28% |
| 169 | NBB | Belgium | 1850 | CB | 42 | 0% |
| 170 | KWAP | Malaysia | 2007 | PPF | 41 | 11% |
| 171 | Bportugal | Portugal | 1846 | CB | 41 | 0% |
| 172 | CBU | Uzbekistan | 1991 | CB | 41 | 0% |
| 173 | Texas MRS | USA - TX | 1947 | PPF | 41 | 49% |
| 174 | GPSSA | UAE | 1999 | PPF | 40 | 40% |
| 175 | NBU | Ukraine | 1839 | CB | 39 | 0% |
| 176 | GPF | Thailand | 1997 | PPF | 38 | 18% |
| 177 | BKAM | Morocco | 1959 | CB | 37 | 0% |
| 178 | CBN | Nigeria | 1958 | CB | 37 | 0% |
| 179 | NWF UK | UK | 2024 | SWF | 36 | 100% |
| 180 | OENB | Austria | 1816 | CB | 36 | 0% |
| 181 | DH | UAE - Dubai | 2004 | SWF | 35 | 93% |
| 182 | BVV | Germany | 1909 | PPF | 35 | 1% |
| 183 | FTF | Norway | 2006 | SWF | 35 | 0% |
| 184 | NBSr | Serbia | 1884 | CB | 34 | 0% |
| 185 | ADPF | UAE - Abu Dhabi | 2000 | PPF | 34 | 40% |
| 186 | RBNZ | New Zealand | 1934 | CB | 33 | 0% |
| 187 | CDG | Morocco | 1959 | PPF | 33 | 33% |
| 188 | OBAG | Austria | 1967 | SWF | 33 | 27% |
| 189 | GRSIA | Qatar | 2002 | PPF | 31 | 11% |
| 190 | GSIS | Philippines | 1936 | PPF | 31 | 5% |
| 191 | Wyoming STO | USA - WY | 1974 | SWF | 30 | 12% |
| 192 | AMCM | China - MSAR | 1999 | CB | 30 | 0% |
| 193 | Khazanah | Malaysia | 1993 | SWF | 30 | 29% |
| 194 | BCRA | Argentina | 1935 | CB | 29 | 0% |
| 195 | Aramco PF | Saudi Arabia | 2017 | PPF | 29 | 33% |
| 196 | RDIF | Russia | 2011 | SWF | 28 | 100% |
| 197 | BdL | Lebanon | 1964 | CB | 28 | 0% |
| 198 | AIH | Azerbaijan | 2021 | SWF | 27 | 100% |
| 199 | KENFO | Germany | 2017 | SWF | 26 | 10% |
| 200 | CBIran | Iran | 1960 | CB | 26 | 0% |
| 201 | VER | Finland | 1990 | PPF | 25 | 11% |
| 202 | FDC | Luxembourg | 2004 | PPF | 25 | 5% |
| 203 | BB | Bangladesh | 1971 | CB | 25 | 0% |
| 204 | BanGuat | Guatemala | 1945 | CB | 24 | 0% |
| 205 | UFRD | Uzbekistan | 2006 | SWF | 23 | 34% |
| 206 | FRR | France | 2001 | PPF | 23 | 5% |
| 207 | Baiterek | Kazakhstan | 2014 | SWF | 22 | 100% |
| 208 | CBJ | Jordan | 1964 | CB | 21 | 0% |
| 209 | NBC | Cambodia | 1954 | CB | 21 | 0% |
| 210 | PFR | Poland | 2016 | SWF | 20 | 95% |
| 211 | Bouwinvest | Netherlands | 2002 | PPF | 20 | 100% |
| 212 | BCU | Uruguay | 1967 | CB | 19 | 0% |
| 213 | OPTrust | Canada - ON | 1995 | PPF | 19 | 53% |
| 214 | ISIF | Ireland | 2014 | SWF | 19 | 31% |
| 215 | TL PF | Timor Leste | 2005 | SWF | 18 | 4% |
| 216 | CBO | Oman | 1974 | CB | 18 | 0% |
| 217 | SP | Finland | 1811 | CB | 18 | 0% |
| 218 | Mumtalakat | Bahrain | 2006 | SWF | 18 | 79% |
| 219 | SK CIC | Canada - SK | 1947 | SWF | 17 | 100% |
| 220 | SBP | Pakistan | 1947 | CB | 17 | 0% |
| 221 | POBA | South Korea | 1975 | PPF | 17 | 58% |
| 222 | BCEAO | West African System | 1959 | CB | 16 | 0% |
| 223 | TtE | Greece | 1927 | CB | 16 | 0% |
| 224 | BCRD | Dominican Republic | 1947 | CB | 15 | 0% |
| 225 | BEAC | Central African System | 1972 | CB | 15 | 0% |
| 226 | BNA | Angola | 1926 | CB | 15 | 0% |
| 227 | Himaya | Oman | 2023 | PPF | 15 | 40% |
| 228 | NRB | Nepal | 1956 | CB | 15 | 0% |
| 229 | BCCR | Costa Rica | 1950 | CB | 14 | 0% |
| 230 | NBSl | Slovakia | 1993 | CB | 14 | 0% |
| 231 | Chile ESSF-PRF | Chile | 2006 | SWF | 14 | 0% |
| 232 | SIO-MPF | Bahrain | 1976 | PPF | 13 | 30% |
| 233 | CBAR | Azerbaijan | 1992 | CB | 12 | 0% |
| 234 | CBIreland | Ireland | 1943 | CB | 12 | 0% |
| 235 | SDH / SSH | Slovenia | 1993 | SWF | 12 | 75% |
| 236 | CDP Equity | Italy | 2011 | SWF | 11 | 81% |
| 237 | SFPIM | Belgium | 2006 | SWF | 11 | 60% |
| 238 | ND SIB | USA - ND | 1989 | SWF | 11 | 8% |
| 239 | INA | Indonesia | 2020 | SWF | 11 | 26% |
| 240 | BCP | Paraguay | 1952 | CB | 10 | 0% |
| 241 | BCV | Venezuela | 1939 | CB | 10 | 0% |
| 242 | CADF | China | 2007 | SWF | 10 | 41% |
| 243 | CBKy | Kenya | 1966 | CB | 10 | 0% |
| 244 | BCE | Ecuador | 1927 | CB | 9 | 0% |
| 245 | BCT | Tunisia | 1958 | CB | 9 | 0% |
| 246 | NBRB | Belarus | 1990 | CB | 9 | 0% |
| 247 | BdM | Mozambique | 1975 | CB | 8 | 0% |
| 248 | BoM | Mauritius | 1967 | CB | 8 | 0% |
| 249 | HKIC | China - HKSAR | 2023 | SWF | 8 | 0% |
| 250 | Solidium | Finland | 1991 | SWF | 8 | 100% |
| 251 | BCH | Honduras | 1950 | CB | 7 | 0% |
| 252 | BeS | Albania | 1992 | CB | 7 | 0% |
| 253 | SBI | Iceland | 1961 | CB | 7 | 0% |
| 254 | GrowthFund | Greece | 2016 | SWF | 6 | 95% |
| 255 | BoG | Ghana | 1957 | CB | 6 | 0% |
| 256 | CBB | Bahrain | 2006 | CB | 6 | 0% |
| 257 | CBTT | Trinidad & Tobago | 1964 | CB | 6 | 0% |
| 258 | LiB | Lithuania | 1990 | CB | 6 | 0% |
| 259 | T&T HSF | Trinidad & Tobago | 2000 | SWF | 6 | 0% |
| 260 | COFIDES | Spain | 1988 | SWF | 6 | 100% |
| 261 | BBB IP | UK | 2014 | SWF | 5 | 100% |
| 262 | LaB | Latvia | 1993 | CB | 5 | 0% |
| 263 | NIIF | India | 2015 | SWF | 5 | 100% |
| 264 | BCBo | Bolivia | 1928 | CB | 5 | 0% |
| 265 | FEIP+FMPED | Mexico | 2000 | SWF | 5 | 0% |
| 266 | FAE+FAEP | Colombia | 1995 | SWF | 4 | 0% |
| 267 | MB | Mongolia | 1991 | CB | 4 | 0% |
| 268 | Pula Fund | Botswana | 1994 | SWF | 4 | 0% |
| 269 | DHI | Bhutan | 2007 | SWF | 3 | 90% |
| 270 | KWAN / NTF | Malaysia | 1988 | SWF | 3 | 0% |
| 271 | FEF | Peru | 1999 | SWF | 3 | 0% |
| 272 | HNB | Croatia | 1990 | CB | 3 | 0% |
| 273 | SAM | UAE - Sharjah | 2008 | SWF | 3 | 85% |
| 274 | NRF | Guyana | 2019 | SWF | 3 | 0% |
| 275 | FAP | Panama | 2012 | SWF | 3 | 0% |
| 276 | NSIA | Nigeria | 2011 | SWF | 2 | 60% |
| 277 | MGI | Malta | 2015 | SWF | 2 | 100% |
| 278 | Maharlika | Philippines | 2023 | SWF | 2 | 0% |
| 279 | FSDEA | Angola | 2012 | SWF | 2 | 22% |
| 280 | FFSB | Brazil | 2021 | SWF | 2 | 0% |
| 281 | ECCB | East Caribbean System | 1983 | CB | 2 | 0% |
| 282 | TSFE | Egypt | 2018 | SWF | 2 | 23% |
| 283 | SCIC | Vietnam | 2006 | SWF | 2 | 100% |
| 284 | FGIS | Gabon | 2012 | SWF | 2 | 100% |
| 285 | Ithmar Capital | Morocco | 2011 | SWF | 2 | 52% |
| 286 | Sarawak | Malaysia | 2024 | SWF | 2 | 0% |
| 287 | ICF | Israel | 2022 | SWF | 1 | 0% |
| 288 | GHF+GSF | Ghana | 2011 | SWF | 1 | 0% |
| 289 | FONSIS | Senegal | 2012 | SWF | 1 | 100% |
| 290 | MIC | Mauritius | 2020 | SWF | 1 | 100% |
| 291 | Palestine | Palestine | 2003 | SWF | 1.0 | 100% |
| 292 | NIF | Cyprus | 2019 | SWF | 0.8 | 0% |
| 293 | FSI | Guinea | 2013 | SWF | 0.7 | 100% |
| 294 | FGR | Bahrain | 2006 | SWF | 0.7 | 36% |
| 295 | GIIF | Ghana | 2016 | SWF | 0.3 | 100% |
| 296 | Agaciro Fund | Rwanda | 2012 | SWF | 0.3 | 6% |
| 297 | FHF-FSF | Mongolia | 2010 | SWF | 0.2 | 0% |
| 298 | FSD | Djibouti | 2020 | SWF | 0.2 | 100% |
| 299 | Nauru | Nauru | 2015 | SWF | 0.2 | 12% |
| 300 | Welwitschia | Namibia | 2022 | SWF | 0.0 | 0% |
Source: Global SWF. Last updated December 2024
* Assets under management: Latest period USD figure if available, estimation otherwise
** Allocation to Alternative Assets, incl. real estate, infrastructure, private equity and hedge funds