SovereignWealthFunds.comSovereign wealth funds: USD 10 to 100 billion
Our size pages group funds into four bands: over US$100bn, US$10bn to US$100bn, US$1bn to US$10bn, and under US$1bn. Of the 166 operating funds that have a comparable size figure, 28 sit in the top band, 49 in the second, 56 in the third and 33 in the smallest, using the headline figure shown in each profile.
Please read these bands with care. A fund's band depends on the figure we show, and figures come from different sources: 134 entities have a figure from the fund's own reports or audited accounts, and 33 have a press report or an estimate. Another 64 have no comparable figure. Some figures are portfolio values, some are group balance sheets, and some are converted from local currency on a stated date.
That is why every row shows its basis and date, and why we never publish a total for a band. If a fund sits near the line between two bands, a different source could move it.
USD 10 to 100 billion (56)
56 shown
| Fund | Country | Type | Size, as published | Transparency | Founded |
|---|---|---|---|---|---|
| Alaska Permanent Fund | United States (Alaska) North America | Sub-national permanent fund | USD 91.9B Fund market value, | 10.0 | 1976 |
| Permodalan Nasional Berhad (PNB) | Malaysia Asia | State holding company | RM365.3B Assets under management, | 8.5 | 1978 |
| Samruk-Kazyna JSC | Kazakhstan Asia | State holding company | KZT 44.2T Total assets (balance sheet), | 8.5 | 2008 |
| Queensland Investment Corporation | Australia (Queensland) Australia and Pacific | Sub-national permanent fund | A$131.6B gross AUM Assets under management | 8.0 | 1991 |
| Dubai Investment Fund | United Arab Emirates (Dubai) Middle East | State holding company | About USD 80B Estimate Published estimate, | 2.5 | 2023 |
| NSW Treasury Corporation (TCorp) | Australia (New South Wales) Australia and Pacific | Sub-national permanent fund | A$118.6B Assets under management, | 8.5 | 1983 |
| New Mexico State Investment Council (SIC) | United States (New Mexico) North America | Sub-national permanent fund | USD 74.63B Net assets or equity, | 9.0 | 1957 |
| National Fund of the Republic of Kazakhstan | Kazakhstan Asia | Savings and future generations fund | USD 73.8B Fund market value, | 7.5 | 2000 |
| State Oil Fund of the Republic of Azerbaijan (SOFAZ) | Azerbaijan Asia | Savings and future generations fund | USD 72.6B Total assets (balance sheet), | 9.0 | 1999 |
| National Development Fund (Taiwan) | Taiwan Asia | Strategic development fund | NT$2,098.5B Total assets (balance sheet), | 8.0 | 2006 |
| Victorian Funds Management Corporation (VFMC) | Australia (Victoria) Australia and Pacific | Sub-national permanent fund | AUD 95.3B Assets under management, | 8.5 | 1994 |
| Texas Permanent School Fund | United States (Texas) North America | Sub-national permanent fund | USD 60.6B Net assets or equity, | 9.5 | 1845 |
| Oman Investment Authority (OIA) | Oman Middle East | Strategic development fund | OMR 22.922B Total assets (balance sheet), | 7.5 | 2020 |
| New Zealand Superannuation Fund | New Zealand Australia and Pacific | Pension reserve fund | NZ$94.4B Fund market value, | 9.5 | 2001 |
| Libyan Investment Authority | Libya Africa | Savings and future generations fund | About USD 51.8B (direct portfolio incl. cash) Portfolio value, | 7.0 | 2006 |
| MGX | United Arab Emirates (Abu Dhabi) Middle East | Strategic development fund | USD 49B Committed or authorised capital, | 5.0 | 2024 |
| Ethiopian Investment Holdings | Ethiopia Africa | State holding company | About USD 45B Estimate Published estimate, | 5.5 | 2021 |
| Folketrygdfondet (Government Pension Fund Norway) | Norway Europe | Pension reserve fund | NOK 429B Assets under management, | 9.0 | 1967 |
| Texas Permanent University Fund (PUF) | United States (Texas) North America | Sub-national permanent fund | USD 40.29B Net assets or equity, | 9.0 | 1876 |
| Khazanah Nasional Berhad | Malaysia Asia | State holding company | RM156B Total assets (balance sheet), | 9.0 | 1993 |
| Baiterek National Investment Holding | Kazakhstan Asia | Strategic development fund | KZT 19,047.6B Total assets (balance sheet), | 9.5 | 2013 |
| National Wealth Fund | United Kingdom Europe | Strategic development fund | GBP 27.8B Committed or authorised capital, | 9.0 | 2021 |
| Oesterreichische Beteiligungs AG (OBAG) | Austria Europe | State holding company | EUR 30.05B Portfolio value, | 8.5 | 1967 |
| Hong Kong Future Fund | Hong Kong SAR, China Asia | Savings and future generations fund | HK$235.1B Fund market value, | 4.0 | 2016 |
| KENFO, Nuclear Waste Disposal Fund (Germany) | Germany Europe | Savings and future generations fund | EUR 25,577M Fund market value, | 10.0 | 2017 |
| Texas Economic Stabilization Fund (Rainy Day Fund) | United States (Texas) North America | Stabilisation fund | USD 24.8B Fund market value, | 4.5 | 1988 |
| Beijing State-owned Assets Management Co., Ltd. | China (Beijing) Asia | State holding company | RMB 171.92B total assets Total assets (balance sheet), | 6.5 | 1992 |
| U.S. International Development Finance Corporation | United States North America | Strategic development fund | USD 23.6B total assets Total assets (balance sheet), | 9.0 | 2019 |
| Alberta Heritage Savings Trust Fund | Canada (Alberta) North America | Sub-national permanent fund | C$31.9B Net assets or equity, | 8.5 | 1976 |
| Crown Investments Corporation of Saskatchewan (CIC) | Canada (Saskatchewan) North America | State holding company | C$26,852.8M Total assets (balance sheet), | 9.0 | 1947 |
| Mumtalakat Holding Company | Bahrain Middle East | State holding company | BHD 7.22B Total assets (balance sheet), | 7.5 | 2006 |
| Ireland Strategic Investment Fund (ISIF) | Ireland Europe | Strategic development fund | EUR 16.1B Net assets or equity, | 9.0 | 2014 |
| Timor-Leste Petroleum Fund | Timor-Leste Australia and Pacific | Savings and future generations fund | USD 18.61B Fund market value, | 10.0 | 2005 |
| Sociedad Estatal de Participaciones Industriales | Spain Europe | State holding company | EUR 15.01B Portfolio value, | 7.0 | 1995 |
| Japan Investment Corporation (JIC) | Japan Asia | Strategic development fund | JPY 2.60T Committed or authorised capital, | 6.5 | 2018 |
| Mutapa Investment Fund (Zimbabwe) | Zimbabwe Africa | State holding company | USD 16.5B Total assets (balance sheet), | 8.0 | 2014 |
| Slovenian Sovereign Holding | Slovenia Europe | State holding company | EUR 14.0B Portfolio value, | 8.5 | 2014 |
| North Dakota Legacy Fund | United States (North Dakota) North America | Sub-national permanent fund | USD 15.10B Net assets or equity, | 9.0 | 2010 |
| Future Ireland Fund | Ireland Europe | Savings and future generations fund | EUR 12.7B Fund market value, | 8.5 | 2024 |
| Espana Crece (ICO programme) | Spain Europe | Strategic development fund | EUR 13.3B Committed or authorised capital, | 4.5 | 2026 |
| CDP Equity S.p.A. | Italy Europe | Strategic development fund | EUR 12.44B total assets Total assets (balance sheet), | 7.5 | 2011 |
| Polish Development Fund (PFR) | Poland Europe | Strategic development fund | PLN 49.77B Total assets (balance sheet), | 7.0 | 2012 |
| Federal Holding and Investment Company (SFPIM / FPIM), Belgium | Belgium Europe | State holding company | EUR 11,679M Total assets (balance sheet), | 7.0 | 1962 |
| Permanent Wyoming Mineral Trust Fund | United States (Wyoming) North America | Sub-national permanent fund | USD 13.02B Fund market value, | 6.5 | 1974 |
| Growthfund (Hellenic Corporation of Assets and Participations S.A.) | Greece Europe | State holding company | EUR 12.3B AUM (2024) Assets under management, | 8.5 | 2016 |
| Parpublica (Portugal) | Portugal Europe | State holding company | EUR 10.82B Total assets (balance sheet), | 8.5 | 2000 |
| NSW Generations Fund | Australia (New South Wales) Australia and Pacific | Sub-national permanent fund | A$18.921B Fund market value, | 7.0 | 2018 |
| Export and Investment Fund of Denmark (EIFO) | Denmark Europe | Strategic development fund | DKK 76.5B Total assets (balance sheet), | 8.0 | 2022 |
| Quebec Generations Fund | Canada (Quebec) North America | Sub-national permanent fund | C$16.64B Fund market value, | 6.5 | 2006 |
| Tamilnadu Industrial Development Corporation Ltd (TIDCO) | India (Tamil Nadu) Asia | State holding company | INR 103,607 crore Fair value of state company holdings, | 5.0 | 1965 |
| Arizona Permanent Land Endowment Trust Fund | United States (Arizona) North America | Sub-national permanent fund | USD 11.4B Fund market value, | 4.5 | 1912 |
| CNIC Corporation Limited | Hong Kong SAR, China Asia | Strategic development fund | USD 11.1B capital Committed or authorised capital | 1.5 | 2012 |
| Pension Reserve Fund (Fondo de Reserva de Pensiones) | Chile Latin America and Caribbean | Pension reserve fund | USD 10.71B Fund market value, | 9.0 | 2006 |
| Solidium Oy | Finland Europe | State holding company | EUR 9.1B (end 2025) Portfolio value | 10.0 | 2008 |
| China-Africa Development Fund (CADFund) | China Asia | Strategic development fund | USD 10B fund scale Committed or authorised capital, | 2.5 | 2007 |
| Russian Direct Investment Fund (RDIF) | Russia Europe | Fund of funds or co-investment platform | USD 10B Committed or authorised capital, | 3.0 | 2011 |
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.
