Key facts
- PwC projected public pension assets rising to $36.3 trillion by 2030 from about $27.6 trillion.
- PwC projected central bank assets climbing to about $20.9 trillion by 2030 from about $17.3 trillion.
- The top 10 institutions hold around 41% of combined sovereign wealth fund and pension assets, PwC found.
- State investors channelled roughly $66 billion to AI and digitisation in 2025, mostly to the US, per PwC.
- Saudi Arabia's Public Investment Fund cut foreign allocations to roughly 20% from a peak near 30%, PwC found.
Sovereign wealth fund assets are set to rise nearly 50% to $22.4 trillion by 2030 from about $15.2 trillion, according to a PwC report released on November 12, 2026. The report analyzed the world's 350 largest public investors.
PwC forecast public pension assets rising to $36.3 trillion from about $27.6 trillion and central bank assets climbing to about $20.9 trillion from about $17.3 trillion. It found the top 10 institutions hold around 41% of combined sovereign wealth fund and pension assets, and the top 50 hold 77%.
The report said the largest funds have shifted from passive holders to principal investors that originate transactions and take controlling positions with operational roles. "These investors no longer depend solely on external managers," said Eric Janson, PwC's global private equity and principal investors leader.
In 2025, the bulk of the roughly $66 billion state investors channelled to AI and digitisation went to the US, while flows to China slipped to around $4 billion, the report found. It said Gulf state funds were tilting toward the US, pointing to pledges from Qatar's QIA and Abu Dhabi's MGX and ADIA. Saudi Arabia's Public Investment Fund was an exception, cutting foreign allocations to roughly 20% from a peak near 30% as it shifted toward domestic focus.