2025 Top 121 Sovereign Wealth Funds
Which are the top 121 sovereign wealth funds in 2025? Caproasia Institute has released the list of top sovereign wealth funds in 2025. Which are the top sovereign wealth funds in 2025? Which are the largest sovereign wealth funds in 2025? Where are the largest sovereign wealth funds? Which country & region are they from? Caproasia Institute – See below for the latest list of top 121 sovereign wealth funds in the world in 2025. Sovereign Wealth Fund (SWF) is a country-owned investment fund.
2025 Rankings:
- 2025 List of Top Sovereign Wealth Funds
- 2025 Top 105 Sovereign Wealth Funds
- 2025 Top 37 Sovereign Wealth Funds in APAC
” Largest Sovereign Wealth Fund is Norway Government Pension Fund Global (Norges Bank IM), Norway – $1.78 trillion “
2025 List of Top Sovereign Wealth Funds
Top 10 Largest Sovereign Wealth Funds
- Norway Government Pension Fund Global (Norges Bank IM), Norway – $1.78 trillion
- China Investment Corporation (CIC), China – $1.3 trillion
- China State Administration of Foreign Exchange (SAFE), China – $1.23 trillion
- Abu Dhabi Investment Authority (ADIA), UAE – $1.05 trillion
- Kuwait Investment Authority (KIA), Kuwait – $1 trillion
- Public Investment Fund (PIF), Saudi Arabia – $925 billion
- GIC, Singapore – $850 billion
- Qatar Investment Authority (QIA), Qatar – $530 billion
- Hong Kong Monetary Authority Investment Portfolio, Hong Kong – $516 billion
- SAMA Foreign Holdings, Saudi Arabia – $498 billion
No. of Sovereign Wealth Funds by Region
- North America – 16
- Latin America – 10
- Europe – 19
- Middle East – 22
- Africa – 17
- Asia – 27
- Australia & Pacific – 10
- Total – 121
2025 List of Top Sovereign Wealth Funds
Rank | Sovereign Wealth Fund | AUM 2025 | Country | Region |
1 | Norway Government Pension Fund Global (Norges Bank) | $1.78 trillion | Norway | Europe |
2 | China Investment Corporation (CIC) | $1.3 trillion | China | Asia |
3 | China State Administration of Foreign Exchange (SAFE) | $1.23 trillion | China | Asia |
4 | Abu Dhabi Investment Authority (ADIA) | $1.05 trillion | UAE | Middle East |
5 | Kuwait Investment Authority (KIA) | $1 trillion | Kuwait | Middle East |
6 | Public Investment Fund (PIF) | $925 billion | Saudi Arabia | Middle East |
7 | GIC | $850 billion | Singapore | Asia |
8 | Qatar Investment Authority (QIA) | $530 billion | Qatar | Middle East |
9 | Hong Kong Monetary Authority Investment Portfolio | $516 billion | Hong Kong | Asia |
10 | SAMA Foreign Holdings | $498 billion | Saudi Arabia | Middle East |
11 | National Council for Social Security Fund | $424 billion | China | Asia |
12 | Investment Corporation of Dubai | $353 billion | UAE | Middle East |
13 | Mubadala Investment Company | $330 billion | UAE | Middle East |
14 | Temasek Holdings | $288 billion | Singapore | Asia |
15 | Abu Dhabi Developmental Holding Company (ADQ) | $225 billion | UAE | Middle East |
16 | Korea Investment Corporation (KIC) | $200 billion | South Korea | Asia |
17 | Turkey Wealth Fund (TWF) | $200 billion | Turkey | Middle East |
18 | National Welfare Fund | $155 billion | Russia | Europe |
19 | Ethiopian Investment Holdings | $150 billion | Ethiopia | Africa |
20 | National Development Fund of Iran | $150 billion | Iran | Middle East |
21 | Future Fund | $144 billion | Australia | Australia & Pacific |
22 | National Development Fund (NDF) | $132 billion | Saudi Arabia | Middle East |
23 | Alberta Investment Management Corporation (AIMCo) | $118 billion | Canada | North America |
24 | Emirates Investment Authority (EIA) | $90 billion | UAE | Middle East |
25 | Alaska Permanent Fund Corporation (APFC) | $80 billion | United States | North America |
26 | Dubai World | $80 billion | UAE | Middle East |
27 | Brunei Investment Agency (BIA) | $78 billion | Brunei | Asia |
28 | University of Texas Investment Mgmt Company (UTIMCO) | $78 billion | United States | North America |
29 | Permodalan Nasional Berhad (PNB) | $78 billion | Malaysia | Asia |
30 | Samruk-Kazyna | $73 billion | Kazakhstan | Asia |
31 | Queensland Investment Corporation (QIC) | $70 billion | Australia | Australia & Pacific |
32 | Libyan Investment Authority | $70 billion | Libya | Africa |
33 | NSW Treasury Corporation (T-Corp) | $68 billion | Australia | Australia & Pacific |
34 | National Fund of Kazakhstan (NFRK) | $62 billion | Kazakhstan | Asia |
35 | Texas Permanent School Fund (TPSF) | $62 billion | United States | North America |
36 | State Oil Fund of Azerbaijan (SOFAZ) | $61 billion | Azerbaijan | Europe |
37 | Victorian Funds Management Corporation | $58 billion | Australia | Australia & Pacific |
38 | New Mexico State Investment Council (NMSIC) | $54 billion | United States | North America |
39 | Oman Investment Authority | $50 billion | Oman | Middle East |
40 | NZ Super Fund | $43 billion | New Zealand | Australia & Pacific |
41 | CNIC Corporation (Guoxin International Investment) | $33 billion | Hong Kong | Asia |
42 | Hong Kong Future Fund | $33 billion | Hong Kong | Asia |
43 | Wyoming State Loan & Investment Board | $30 billion | United States | North America |
44 | Österreichische Beteiligungs | $30 billion | Norway | Europe |
45 | Azerbaijan Investment Holding | $29 billion | Azerbaijan | Asia |
46 | Russian Direct Investment Fund | $28 billion | Russia | Europe |
47 | Nuclear Waste Disposal Fund (KENFO) | $27 billion | Germany | Europe |
48 | Fund for Reconstruction & Development of Uzbekistan | $23 billion | Uzbekistan | Asia |
49 | Khazanah Nasional | $19 billion | Malaysia | Asia |
50 | Timor-Leste Petroleum Fund | $18 billion | Timor-Leste | Australia & Pacific |
51 | Mumtalakat Holding | $18 billion | Bahrain | Middle East |
52 | NSW Generations Fund (NGF) | $17 billion | Australia | Australia & Pacific |
53 | Revenue Regulation Fund (Fond de Regulation des Recettes) | $16 billion | Algeria | Africa |
54 | Ireland Strategic Investment Fund (ISIF) | $16 billion | Ireland | Europe |
55 | Federal Holding & Investment Company (SFPIM) | $16 billion | Belgium | Europe |
56 | Sociedad Estatal de Participaciones Industriales (SEPI) | $14 billion | Spain | Europe |
57 | Crown Investments Corporation of Saskatchewan | $13 billion | Canada | North America |
58 | Malta Government Investments | $12 billion | Malta | Europe |
59 | Sovereign Fund of Egypt (TSFE) | $12 billion | Egypt | Middle East |
60 | North Dakota Legacy Fund | $11 billion | United States | North America |
61 | Slovenian Sovereign Holding (SSH) | $11 billion | Slovenia | Europe |
62 | Indonesia Investment Authority | $10.5 billion | Indonesia | Asia |
63 | Chile Pension Reserve Fund | $9.4 billion | Chile | Latin America |
64 | Maharlika Investment Fund (MIF) | $9 billion | Philippines | Asia |
65 | Hong Kong Investment Corporation | $8 billion | Hong Kong | Asia |
66 | Pakistan Sovereign Wealth Fund | $8 billion | Pakistan | Middle East |
67 | Solidium | $8 billion | Finland | Europe |
68 | Monaco Constitutional Reserve Fund | $8 billion | Monaco | Europe |
69 | Hellenic Corporation of Assets and Participations (HCAP) | $7 billion | Greece | Europe |
70 | Heritage & Stabilization Fund | $5.7 billion | Trinidad & Tobago | Latin America |
71 | Social & Economic Stabilization Fund | $5.1 billion | Chile | Latin America |
72 | Kumpulan Wang Amanah Negara (KWAN) | $4.5 billion | Malaysia | Asia |
73 | Colombia Savings & Stabilization Fund | $4.3 billion | Columbia | Latin America |
74 | Pula Fund | $4 billion | Botswana | Africa |
75 | Oesterreichische Beteiligungs AG | $4 billion | Austria | Europe |
76 | Japan Investment Corporation | $3.6 billion | Japan | Asia |
77 | Alabama Trust Fund | $3.5 billion | United States | North America |
78 | Regional Investment Company of Wallonia (SRIW) | $3.4 billion | Belgium | Europe |
79 | Druk Holding & Investment (DHI) | $3.4 billion | Bhutan | Asia |
80 | Idaho Endowment Fund Investment Board | $3.2 billion | United States | North America |
81 | Utah SITFO | $3 billion | United States | North America |
82 | Royal Bafokeng Holdings | $2.7 billion | Royal Bafokeng Nation | Africa |
83 | Fundo Soberano de Angola (FSDEA) | $2.2 billion | Angola | Africa |
84 | Fondo de Ahorro de Panama | $2.6 billion | Panama | Latin America |
85 | Nigeria Sovereign Investment Authority | $2.6 billion | Nigeria | Africa |
86 | Fondo Mexicano del Petroleo | $2.2 billion | Mexico | Latin America |
87 | Mauritius Investment Corporation | $2 billion | Mauritius | Africa |
88 | Sharjah Asset Management | $2 billion | UAE | Middle East |
89 | Vietnam State Capital Investment Corporation | $2 billion | Vietnam | Asia |
90 | Fórum de Fundos Soberanos Brasileiros | $2 billion | Brazil | Latin America |
91 | Fonds Gabonais d’Investissements Stratégiques (FGIS) | $1.8 billion | Gabon | Africa |
92 | Sarawak Sovereign Wealth Future Fund | $1.8 billion | Malaysia | Asia |
93 | Oklahoma Tobacco Settlement Endowment Trust | $1.7 billion | United States | North America |
94 | Sentosa Development Corporation | $1.5 billion | Singapore | Asia |
95 | Louisiana Education Quality Trust Fund (LEQTF) | $1.4 billion | United States | North America |
96 | Colorado Public School Fund Investment Board | $1.3 billion | United States | North America |
97 | Mexico Budgetary Income Stabilization Fund | $1.3 billion | Mexico | Latin America |
98 | Israeli Citizens Fund (ICF) | $1.4 billion | Israel | Middle East |
99 | Senegal FONSIS | $1.2 billion | Senegal | Africa |
100 | Chinggis Fund (Mongolia Future Heritage Fund) | $1.1 billion | Mongolia | Asia |
101 | Armenian National Interests Fund | $1 billion | Armenia | Asia |
102 | Palestine Investment Fund | $1 billion | Palestine | Middle East |
103 | National Development & Social Fund (Malta) | $730 million | Malta | Europe |
104 | Kiribati Revenue Equalization Reserve Fund | $730 million | Kiribati | Australia & Pacific |
105 | Bahrain Future Generations Reserve Fund | $680 million | Bahrain | Middle East |
106 | Ghana Heritage Fund | $650 million | Ghana | Africa |
107 | Guyana Natural Resource Fund | $650 million | Guyana | Latin America |
108 | Ghana Stabilisation Fund | $640 million | Ghana | Africa |
109 | Fujairah Holding | $500 million | UAE | Middle East |
110 | Luxembourg Intergenerational Sovereign Fund | $490 million | Luxembourg | Europe |
111 | Native Hawaiian Trust Fund | $440 million | United States | North America |
112 | Fund for Productive Industrial Revolution (FINPRO) | $420 million | Bolivia | Latin America |
113 | Ghana Infrastructure Investment Fund | $345 million | Ghana | Africa |
114 | Sovereign Fund of the Republic of Kosovo | $330 million | Kosovo | Europe |
115 | Agaciro Development Fund | $240 million | Rwanda | Africa |
116 | Little Red River Cree Nation Sovereign Wealth Fund | $190 million | Canada | North America |
117 | Fonds Souverain de Djibouti (FSD) | $170 million | Djibouti | Africa |
118 | Nauru Intergenerational Trust Fund | $160 million | Nauru | Australia & Pacific |
119 | Sovereign Fund of Mozambique | $114 million | Mozambique | Africa |
120 | Sovereign Wealth Fund of Papua New Guinea (SWF) | $60 million | Papua New Guinea | Australia & Pacific |
121 | Welwitschia Fund | $23 million | Namibia | Africa |
Source: Caproasia Institute
2025 Rankings:
- 2025 List of Top Sovereign Wealth Funds
- 2025 Top 105 Sovereign Wealth Funds
- 2025 Top 37 Sovereign Wealth Funds in APAC
2024 Rankings:
- 2024 List of Top Sovereign Wealth Funds
- 2024 Top 105 Sovereign Wealth Funds
- 2024 Top 31 Sovereign Wealth Funds in APAC
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