This paper examines the investment patterns of 50 Sovereign Wealth Funds in 903 public and private firms over the period 1984-2009, and specifically the determinants of a SWF’s weight of direct private equity in their overall portfolio. The paper finds evidence that SWFs are more likely to invest in private firms in countries that have
Asian IPOs, core retail real estate and natural resource investments are the most favoured by the world’s sovereign wealth funds for the next three months, according to a ‘consensus demand meter’ produced by the Sovereign Wealth Fund Institute in the US.
Sovereign wealth funds have captured the imagination of investment professionals and politicians alike over the past few years. Perhaps because of the large sums of money at their disposal, there has been a degree of wariness about the intentions of some. Most, after all, are controlled by governments.
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