“Oil 5” Sovereign Wealth Funds Pass $4 Trillion Mark

The sovereign wealth funds of the Gulf Cooperation Council members topped $4 trillion in 2015, which was an all-time high.

Called the “Oil 5”, the group of leading sovereign wealth funds consists of 3 entities from the United Arab Emirates, one from Saudi Arabia, and the Qatar Financial Investment Authority. The 5 invested an overall $75.6 billion in 2015, which was a decrease on 2022 financial investments, the Khaleej Times reported, mentioning information from a report by International SWF.

The Saudi Public Mutual Fund and the Qatar Financial Investment Authority were the most active financiers, representing the bulk of the 5’s overall, at some $68 billion. The Saudi sovereign wealth fund was likewise the greatest financier internationally in 2015, releasing $31.6 billion throughout 49 offers.

The quantity was a 33% boost on 2022 and a record for any sovereign wealth fund. The overall invest of sovereign wealth funds in 2015 reached $123.8 billion. The 5 oil funds from the Gulf were the most active financiers throughout the year.

The boost in financial investments for the Gulf oil kingdoms’ sovereign wealth funds comes in the middle of lower oil costs and likewise lower production for Saudi Arabia. Based upon their properties under management, nevertheless, it appears the impact of the oil rate thrashing in 2015 will manifest with a hold-up.

The UAE, on the other hand, introduced a brand-new mutual fund at the COP28 environment conference in December. The entity will have a size of $30 billion and will be a collaboration in between the Emirates, BlackRock, TPG, and Brookfield, the Financial Times reported in late November, mentioning sources in the understand.

A day later on Reuters verified the news mentioning the main statement of the UAE’s President, who stated the fund, called ALTERRA, will look for to raise as much as $250 billion by the end of the years, to purchase in climate-related efforts.

By Charles Kennedy for Oilprice.com

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