Record-high asset allocations by sovereign wealth funds reach $60 trillion, with US receiving nearly half of 2025 investments, mainly in tech sectors and Gulf-region deals, amid shifting global capital flows.
LONDON , Sovereign wealth and public pension funds channelled a record proportion of their 2025 activity into the United States, pouring about $132 billion , roughly half of their annual investments , into the world’s largest economy as assets under management for state-owned investors and central banks hit $60 trillion, according to a Global SWF report.
According to the report by Global SWF, sovereign wealth funds accounted for roughly two‑thirds of the capital that flowed into the US, driven by allocations to digital infrastructure, data centres and artificial intelligence companies. “There was a change in paradigm when it comes to recipient countries,” Global SWF managing director Diego Lopez wrote in the report, noting the US benefitted from targeted spending in those sectors.
The report found sovereign wealth fund assets alone reached a fresh high of $15 trillion. Overall capital deployed by sovereign investors grew 35% to $179.3 billion in 2025, while Global SWF estimates that sovereign and pension funds already hold about $2.2 trillion of the so‑called Magnificent 7 stocks , Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla.
Gulf sovereign funds were among the most active dealmakers. Saudi Arabia’s Public Investment Fund (PIF) committed $36.2 billion , the bulk earmarked for its takeover of games publisher Electronic Arts , while Abu Dhabi’s Mubadala registered a record $32.7 billion of investment across some 40 transactions. The report said Gulf region funds together accounted for a disproportionate share of state capital globally, with Abu Dhabi, Qatar and other Gulf investors backing high‑profile deals and bids, including support from PIF, L’imad Holding Company PJSC and Qatar Investment Authority for Paramount Skydance’s hostile approach to Warner Bros Discovery.
The flow to the US came at the expense of many emerging markets. According to the report, emerging markets , notably China, India, Indonesia and Saudi Arabia as recipients , saw investment fall by 28% from 2024 and captured only 15% of total state‑owned investor capital in 2025. Business‑oriented summaries of the report show investments into China fell to about $4.3 billion from $10.3 billion the prior year. Global SWF also noted private credit investors have begun to pivot toward emerging markets seeking higher returns and more favourable project structures.
Despite the pull of emerging markets for new fund creation , all 11 sovereign funds launched in 2025 originated in emerging economies , the report warned that the outlook for new capital will depend on revenue sources. “New capital will depend on the source of revenue: SWFs reliant on oil will find 2026 another tough year as revenues stagnate, while natural gas and metals such as copper spur new flows,” Lopez wrote.
The shift to the US unfolded amid diplomatic and investment pledges by Gulf states. The report revisits high‑value pledges made during 2025 US visits and meetings: President Donald Trump said Saudi Arabia had agreed to invest $600 billion in the US and that Crown Prince Mohammed bin Salman pledged to increase that to $1 trillion; Abu Dhabi pledged $1.4 trillion for US investments; and Qatar signalled plans for $500 billion over the next decade. The report treats those pledges alongside actual commitments, noting PIF and Mubadala among the top spenders alongside Canada’s CPP and La Caisse and Singapore’s GIC.
Regional coverage of the Global SWF findings highlights another dimension: state investors steered significant sums into technology. Industry summaries state sovereign funds invested about $66 billion into artificial intelligence and digitalisation in 2025, with Middle Eastern funds prominent among the contributors , Abu Dhabi’s Mubadala reportedly invested $12.9 billion, Kuwait Investment Authority $6 billion and Qatar Investment Authority $4 billion in that tech push.
While the Global SWF report frames 2025 as a year of record asset growth and a US‑centric allocation shift, it also signals potential rebalancing ahead. The combination of oil price pressure, delays to flagship projects in some resource‑rich countries, and diversified revenue prospects for other commodity exporters suggests 2026 could see different patterns of state capital deployment. Industry data and the report underline that where new flows come from , oil, gas, metals or diversified sovereign revenues , will be decisive for the next phase of state‑owned investing.
- https://whtc.com/2025/12/31/us-draws-bulk-of-state-owned-investment-in-2025-as-assets-hit-record-60-trln/ – Please view link – unable to able to access data
- https://www.investing.com/news/stock-market-news/us-draws-bulk-of-stateowned-investment-in-2025-as-assets-hit-record-60-trln-4427082 – In 2025, sovereign wealth and public pension funds invested $132 billion into the United States, accounting for approximately half of their total investments. This surge contributed to a record $60 trillion in assets under management globally, with sovereign wealth funds representing two-thirds of the U.S. investments. The U.S. benefited from increased spending in digital infrastructure, data centres, and AI companies. Sovereign wealth fund assets reached a new high of $15 trillion, marking a 35% growth to $179.3 billion in investments. Conversely, emerging markets experienced a 28% decline in investments compared to 2024, receiving only 15% of the total investments. Notably, Saudi Arabia’s Public Investment Fund (PIF) committed $36.2 billion, primarily for its acquisition of Electronic Arts, while Abu Dhabi’s Mubadala invested a record $32.7 billion across 40 transactions. Gulf funds, including PIF, L’imad Holding Company PJSC, and Qatar Investment Authority, were significant backers of Paramount Skydance’s bid to acquire Warner Bros Discovery. Other major investors included Canada’s CPP, La Caisse, and Singapore’s GIC. ([investing.com](https://www.investing.com/news/stock-market-news/us-draws-bulk-of-stateowned-investment-in-2025-as-assets-hit-record-60-trln-4427082?utm_source=openai))
- https://www.business-standard.com/markets/news/sovereign-wealth-funds-push-into-tech-as-assets-swell-to-15-trillion-126010100075_1.html – Sovereign wealth funds globally amassed a record $15 trillion in assets under management in 2025, with a significant portion directed towards technology investments. These funds collectively invested $66 billion in artificial intelligence and digitalisation, with Middle Eastern sovereign wealth funds leading the charge. Abu Dhabi’s Mubadala Investment Co. invested $12.9 billion, Kuwait Investment Authority $6 billion, and Qatar Investment Authority $4 billion in 2025. The Gulf region’s seven major wealth funds accounted for 43% of all capital invested by state-owned investors globally, totalling $126 billion. Saudi Arabia’s Public Investment Fund (PIF) was the largest dealmaker, committing $36.2 billion, primarily for its acquisition of Electronic Arts. Excluding this deal, Mubadala was the most active, investing a record $32.7 billion across 40 transactions. The U.S. emerged as the dominant destination for state-owned investments, attracting $131.8 billion in 2025, nearly doubling from $68.9 billion in 2024. In contrast, investments into China by sovereign-owned investors fell to $4.3 billion from $10.3 billion in 2024. ([business-standard.com](https://www.business-standard.com/markets/news/sovereign-wealth-funds-push-into-tech-as-assets-swell-to-15-trillion-126010100075_1.html?utm_source=openai))
- https://gulfnews.com/business/markets/sovereign-wealth-funds-pour-66-billion-into-ai-as-assets-hit-15-trillion-1.500395812 – In 2025, sovereign wealth funds globally amassed a record $15 trillion in assets under management, with a significant portion directed towards technology investments. These funds collectively invested $66 billion in artificial intelligence and digitalisation, with Middle Eastern sovereign wealth funds leading the charge. Abu Dhabi’s Mubadala Investment Co. invested $12.9 billion, Kuwait Investment Authority $6 billion, and Qatar Investment Authority $4 billion in 2025. The Gulf region’s seven major wealth funds accounted for 43% of all capital invested by state-owned investors globally, totalling $126 billion. Saudi Arabia’s Public Investment Fund (PIF) was the largest dealmaker, committing $36.2 billion, primarily for its acquisition of Electronic Arts. Excluding this deal, Mubadala was the most active, investing a record $32.7 billion across 40 transactions. The U.S. emerged as the dominant destination for state-owned investments, attracting $131.8 billion in 2025, nearly doubling from $68.9 billion in 2024. In contrast, investments into China by sovereign-owned investors fell to $4.3 billion from $10.3 billion in 2024. ([gulfnews.com](https://gulfnews.com/business/markets/sovereign-wealth-funds-pour-66-billion-into-ai-as-assets-hit-15-trillion-1.500395812?utm_source=openai))
- https://economictimes.indiatimes.com/markets/us-stocks/news/sovereign-wealth-funds-pour-132-billion-into-us-emerging-markets-take-a-hit/articleshow/126282503.cms – In 2025, sovereign wealth and public pension funds invested a record $132 billion into the United States, accounting for approximately half of their total investments. This surge contributed to a record $60 trillion in assets under management globally, with sovereign wealth funds representing two-thirds of the U.S. investments. The U.S. benefited from increased spending in digital infrastructure, data centres, and AI companies. Sovereign wealth fund assets reached a new high of $15 trillion, marking a 35% growth to $179.3 billion in investments. Conversely, emerging markets experienced a 28% decline in investments compared to 2024, receiving only 15% of the total investments. Notably, Saudi Arabia’s Public Investment Fund (PIF) committed $36.2 billion, primarily for its acquisition of Electronic Arts, while Abu Dhabi’s Mubadala invested a record $32.7 billion across 40 transactions. Gulf funds, including PIF, L’imad Holding Company PJSC, and Qatar Investment Authority, were significant backers of Paramount Skydance’s bid to acquire Warner Bros Discovery. Other major investors included Canada’s CPP, La Caisse, and Singapore’s GIC. ([economictimes.indiatimes.com](https://economictimes.indiatimes.com/markets/us-stocks/news/sovereign-wealth-funds-pour-132-billion-into-us-emerging-markets-take-a-hit/articleshow/126282503.cms?utm_source=openai))
- https://www.business-standard.com/amp/world-news/us-drew-bulk-of-state-owned-investments-in-2025-global-swf-report-126010101029_1.html – In 2025, sovereign wealth and public pension fund investors poured $132 billion—roughly half of their investments for the year—into the United States, while major emerging markets drew almost a third less than in 2024, despite strong performance. These investors, along with central banks, achieved a record $60 trillion in assets under management, with sovereign wealth funds accounting for two-thirds of the money invested in the U.S. during the year. The shift in investment focus underscores a change in paradigm regarding recipient countries, with the U.S. benefiting from spending focused on digital infrastructure, data centres, and AI companies. Sovereign wealth fund assets alone hit a fresh record of $15 trillion, according to the report from Global SWF, which monitors the assets and spending of the world’s state-owned investors, including wealth and pension funds and central banks. ([business-standard.com](https://www.business-standard.com/amp/world-news/us-drew-bulk-of-state-owned-investments-in-2025-global-swf-report-126010101029_1.html?utm_source=openai))
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
10
Notes:
The narrative is based on a recent report from Global SWF, dated December 31, 2025, indicating high freshness.
Quotes check
Score:
10
Notes:
The quotes attributed to Diego Lopez, managing director of Global SWF, are unique to this report, suggesting originality.
Source reliability
Score:
8
Notes:
The report originates from Global SWF, a reputable organisation specialising in sovereign wealth fund analysis. However, the narrative is published on WHTC, a local radio station’s website, which may not be a primary source for financial news. This raises some uncertainty about the source’s reliability.
Plausability check
Score:
9
Notes:
The claims about sovereign wealth and public pension funds investing $132 billion into the U.S. in 2025 align with known investment trends. The figures and entities mentioned, such as Saudi Arabia’s Public Investment Fund and Abu Dhabi’s Mubadala, are consistent with previous reports. However, the lack of coverage from other reputable outlets and the unusual publication on a local radio station’s website warrant further scrutiny.
Overall assessment
Verdict (FAIL, OPEN, PASS): OPEN
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
While the narrative presents plausible and timely information, the reliance on a local radio station’s website for dissemination raises concerns about the source’s reliability and the potential for disinformation. The absence of corroboration from other reputable outlets further complicates the assessment. Therefore, the overall assessment is ‘OPEN’ with medium confidence.