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Norway’s and NZ Super Fund are among those taking the lead
Total assets under management have levelled off in the last two years
State funds participated in a total $9 billion of deals in January-March.
There were still about 35-40 such companies left to be sold out of the 172 originally earmarked for sale.
It is currently invested in 22 companies across finance, mining & other industries.
It was once the preserve of rich oil exporters or nations with trade surpluses,
Some of the world’s biggest sovereign wealth funds are increasingly striking their own private equity deals rather than relying on external fund managers, in a drive to cut costs and gain more control. With some $6.5 trillion in assets, sovereign investors already account for 19 percent of capital committed to private… Read more »
The single biggest deal was the $4.5 billion funding round for Ant Financial Services Group, an affiliate of China’s biggest e-commerce company, Alibaba Group Holding.
Not long ago, such investments might have been too risky for the $6.5 trillion sovereign wealth sector, which invests governments’ rainy-day savings, mainly from oil earnings.
SWFs control some $7 trillion of assets globally, of which oil and gas producers account for some $4.2 trillion, according to Morgan Stanley.