Abu Dhabi has been named the world’s richest city in terms of sovereign wealth fund assets, according to a report by Global SWF.
The new global ranking of cities according to the capital managed by their sovereign wealth funds says Abu Dhabi boasts $1.7tn in assets managed by its various SWFs headquartered in the city.
These include:
- Abu Dhabi Investment Authority (ADIA)
- Mubadala Investment Company (MIC)
- Abu Dhabi Developmental Holding Company (ADQ)
- Emirates Investment Authority (EIA)
Abu Dhabi sovereign wealth funds
Abu Dhabi now ranks slightly above Oslo, home to the world’s largest SWF, the Government Pension Fund (GPF), which manages more than $1.6tn in assets.
Abu Dhabi and Oslo are followed by Beijing (headquarters of the China Investment Corporation), Singapore (with GIC Private and Temasek Holdings), Riyadh (home to the Public Investment Fund), and Hong Kong (where China’s second SWF, SAFE Investment Corporation, operates from).
Together, these six cities represent two thirds of the capital managed by SWFs globally, equating to $12.5tn as of October 1, 2024.
For the past few decades, the city has grown an impressive portfolio of institutional investors, which are among the world’s largest and most active dealmakers.
In addition to its SWFs, the emirate is home to several other asset owners, including central banks, pension funds, and family offices linked to member of the Royal Family.
Altogether, the city’s public capital is estimated at $2.3tn and is projected to reach $3.4tn by 2030, according to Global SWF estimates.
Abu Dhabi, sometimes referred to as the “Capital of Capital,” also leads when it comes to human capital. The number of personnel employed by SWFs of that jurisdiction amounts to 3,107 staff working for funds based in the city.
Diego López, Founder and Managing Director of Global SWF, said: “The world ranking confirms the concentration of Sovereign Wealth Funds in a select number of cities, underscoring the significance of these financial hubs on the global stage.
“This report offers valuable insights into the landscape of SWF-managed capital and shows that is shifting and expanding in certain cities in the world.”
Follow us on
