PIF
The PIF Megaproject Engine
How Saudi Arabia's $925B sovereign vehicle utilizes complex multi-tranche structures to fund Neom and domestic transformation.
Capital At The Scale Of Nations.
Decoding the structural shifts, allocation strategies, and immense gravity of sovereign wealth funds. We track $11.4 trillion in state-owned assets.
The State of Play
Sovereign funds now eclipse private equity in total AUM, reshaping global public and private markets fundamentally.
$11.4T
176
32%
5.8%
Latest Research
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ALLOCATION
The Illiquidity Premium Myth
Analyzing 15 years of SWF asset allocation data to determine if the aggressive shift to private markets actually yielded alpha.
GPIF
Japan's GPIF: The Whale Moves
With $1.5 trillion under management, even a 1% portfolio shift by GPIF creates shockwaves in global bond markets.
Calculate SWF Impact
Use our tool to estimate the market impact of strategic allocation shifts by Top 10 funds across major asset classes.
"When a fund the size of NBIM decides to adjust its equities weighting by a mere 2%, it represents an active reallocation of $30 billion. It is not trading; it is plate tectonics."
— ISW Quarterly Review
Top Funds by AUM (2024)
| Rank | Fund Name | Country | AUM ($B) | Profile |
|---|---|---|---|---|
| 1 | NBIM (Government Pension Fund Global) | Norway | 1,620 | View → |
| 2 | China Investment Corporation | China | 1,240 | View → |
| 3 | SAFE Investment Company | China | 1,020 | View → |
| 4 | Abu Dhabi Investment Authority (ADIA) | UAE | 993 | View → |
| 5 | Public Investment Fund (PIF) | Saudi Arabia | 925 | View → |