At a glance
- 1,163 deals from 161 fund profiles. Transfers of state assets are left out.
- Top sector by count: Multi-sector (172 deals).
- Amounts are as each profile states them; biggest-deal rankings use the USD figure where we can express one.
Key findings
- Our profile tables list 1,163 deals across 161 funds, not counting state asset transfers.
- Direct investment is the most common structure (569 deals, 49%), then fund commitments (202) and joint ventures (139).
- 7 funds list 15 deals each, the most any profile holds: ADIA, CPP Investments, EDGE, GIC Private Limited, Mubadala, QIA. Profiles list a fund's main deals, so counts show breadth of activity, not total volume.
- The biggest investment amount in our tables is USD 60.0B: XRG and Borouge Group International (2026).
- 359 investments carry an amount we can express in USD; 117 are USD 1 billion or more. Exits are ranked separately, not as investments.
- The largest exit in our tables is USD 69.1B: PIF sold SABIC (2020).
- 574 deals in our tables are dated 2024 or later.
- Most named partners: Brookfield (10), Blackstone (7), State Street (6), EQT (5).
Most deals in our tables
| Fund | Deals | Direct | Co-invest or JV | Fund commitments | New companies | Exits | Largest listed |
|---|
| ADIA | 15 | 5 | 9 | 0 | 0 | 1 | Recordati bid |
| CPP Investments | 15 | 3 | 10 | 1 | 0 | 1 | LXP Industrial |
| EDGE | 15 | 10 | 4 | 0 | 1 | 0 | - |
| GIC Private Limited | 15 | 8 | 7 | 0 | 0 | 0 | Anthropic |
| Mubadala | 15 | 7 | 8 | 0 | 0 | 0 | Intertek |
| QIA | 15 | 8 | 4 | 3 | 0 | 0 | Anthropic |
| RDIF | 15 | 0 | 15 | 0 | 0 | 0 | RDIF-Danantara investment fund |
| Bpifrance | 14 | 7 | 4 | 0 | 1 | 2 | InnoBio 3 |
| ICD | 14 | 7 | 0 | 0 | 0 | 7 | - |
| MGX | 14 | 8 | 6 | 0 | 0 | 0 | Aligned Data Centers |
| PIF | 14 | 9 | 2 | 1 | 0 | 2 | Electronic Arts |
| Temasek | 14 | 9 | 3 | 0 | 0 | 2 | Element Materials Technology |
| NSSIF | 14 | 12 | 2 | 0 | 0 | 0 | TEKEVER |
| ADQ | 13 | 11 | 2 | 0 | 0 | 0 | Ras El-Hekma |
| KIA | 13 | 8 | 1 | 1 | 0 | 3 | Citigroup preferred shares |
The 20 biggest investments in our tables
| Year | Fund | Company or asset | Sector | Amount as stated | USD approx | Stake | Type | Src |
|---|
| 2026 | XRG | Borouge Group International | Industrials and manufacturing | USD 60B EV | USD 60.0B | 50% | Joint venture | S6, S8 |
| 2026 | PIF | Electronic Arts | Sports, entertainment and gaming | About USD 55B (total deal, as reported) | USD 55.0B | - | Direct investment | S18 |
| 2016 | PIF | SoftBank Vision Fund I | Technology | USD 45B | USD 45.0B | - | Fund commitment | S4 |
| 2026 | MGX | Aligned Data Centers | Infrastructure and utilities | About USD 40B EV | USD 40.0B | - | Co-investment | S5 |
| 2026 | GIC Private Limited | Anthropic | Technology | USD 30B round (GIC led) | USD 30.0B | - | Direct investment | S9 |
| 2026 | QIA | Anthropic | Technology | USD 30B round | USD 30.0B | - | Direct investment | S11 |
| 2024 | ADQ | Ras El-Hekma | Real estate | USD 24B for land rights | USD 24.0B | - | Direct investment | S4, S8 |
| - | Lunate | Opella (Sanofi consumer health) | Healthcare and life sciences | EUR 16B (total deal) | USD 18.8B | - | Co-investment | S1 |
| 2025 | XRG | Covestro | Industrials and manufacturing | EUR 14.7B | USD 17.0B | 95.1% | Direct investment | S3, S8 |
| 2026 | Mubadala | Intertek | Industrials and manufacturing | GBP 10.7B enterprise value (total deal) | USD 14.2B | 8% | Co-investment | S14 |
| 2017 | China Investment Corporation | Logicor | Real estate | USD 13.49B | USD 13.5B | - | Direct investment | S6 |
| 2026 | ADIA | Recordati bid | Healthcare and life sciences | EUR 10.7B (total bid) | USD 12.6B | - | Co-investment | S2 |
| 2025 | Mubadala | CI Financial | Financial services | USD 8.9B | USD 8.9B | - | Direct investment | S3, S17 |
| 2024 | Mubadala | Aldar joint ventures | Real estate | Over USD 8.2B (four ventures) | USD 8.2B | - | Joint venture | S17 |
| 2007 | ADIA | Citigroup | Financial services | USD 7.5B | USD 7.5B | - | Direct investment | S12 |
| 2026 | QIA | Janus Henderson | Financial services | About USD 7.4B (total deal) | USD 7.4B | - | Co-investment | S17, S18 |
| - | Lunate | Neoen | Renewables and climate | EUR 6.1B (total deal) | USD 7.2B | - | Co-investment | S1 |
| 2026 | ADQ | Paramount Skydance bid for Warner Bros Discovery | Telecoms and media | USD 7B | USD 7.0B | - | Co-investment | S11 |
| 2022 | Temasek | Element Materials Technology | Industrials and manufacturing | USD 7B | USD 7.0B | 88% | Direct investment | S1 |
| 2008 | GIC Private Limited | Citigroup | Financial services | USD 6.88B | USD 6.9B | 9% | Direct investment | S2 |
Structures used
| Structure | Deals | Share |
|---|
| Direct investment | 569 | 49% |
| Fund commitment | 202 | 17% |
| Joint venture or partnership | 139 | 12% |
| Co-investment | 116 | 10% |
| Sale or exit | 71 | 6% |
| New company or platform | 66 | 6% |
Deals by year
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Deals | 13 | 20 | 18 | 14 | 16 | 30 | 77 | 338 | 159 |
Most named co-investors and partners
| Partner | Deals named |
|---|
| Brookfield | 10 |
| Blackstone | 7 |
| State Street | 6 |
| EQT | 5 |
| KKR | 4 |
| African Development Bank | 4 |
| BlackRock | 4 |
| ADIA | 4 |
| Masdar | 3 |
| GIC | 3 |
| INA | 3 |
| APG | 3 |
What this means for you
- Direct deals dominate. If you run a company, the path is often a direct stake or a joint venture with a fund's portfolio company, not a fund commitment.
- Managers: 202 fund commitments in our tables. Look at the funds that use managers on the top 100 table, then check their profiles for ticket sizes.
- Co-investment partners recur. Being a known co-investor of one sovereign fund is often the warmest introduction to the next.
Data notes: Counts come from the investment, case study and size tables in our fund profiles. They cover the deals each profile lists, not every deal a fund has done, so read them as a guide, not a full census. USD figures marked approx are either stated in USD in the profile or converted at the exchange rate implied by a fund profile headline in the same currency. Amounts are as the profile states them, so some are the full deal size and some are the fund's own ticket.
Sources
Every figure on this page comes from the fund profiles linked in the tables. Source ids such as S3 refer to the numbered sources on each fund's own profile page, where the original document is listed with its date.
Disclaimer
Informational only. SovereignWealthFunds.com is an independent public-source reference. It is not affiliated with or endorsed by any fund named on it, and it is not investment, legal or tax advice. Figures are as of the dates shown next to them and may have changed; please read each fund's official pages, linked on its profile. To report an error, use the contact page. Copyright SovereignWealthFunds.com. All rights reserved.
SovereignWealthFunds.com