Sovereign wealth funds in the Arabian Gulf continue to be the most active "despite the geopolitical uncertainty," according to Global SWF Times' report for October.
The month also saw the lowest deal values since February, with $11.7 billion invested in 48 deals.
One of the most active sovereign investors in October, Saudi Arabia's Public Investment Fund, is leading efforts to attract foreign direct investment to the region. PIF, with $700 billion in assets, recently signed key partnerships with Pirelli and Hyundai, but the short-term focus will stay on Saudi equities and entities, the report said.
The report also looked at London's property sector, which "has been a playground for sovereign investors" since two high-profile purchases in 1974 by the Abu Dhabi Investment Board and the Kuwait Investment Office. Sovereign and pension funds have since deployed more than $76 billion in 156 different properties in The City. They also own three of six airports serving London and utilities giant Thames Water, the report said, noting that with a few exceptions, sovereign investor interest in London properties has slowed in the past two years.
The report also rounds up fund results for some sovereign investors. South Africa's Public Investment Corp. reached $134 billion as of March 31. China's National Social Security Fund was down 5.1% in calendar year 2022, while Norway's Norges Bank Investment Management was down -0.5% in the third quarter and Australia's Future Fund dipped -0.5% for the same period.
