Happy February!
Sovereign Investors had a slow January in terms of investment activity when compared to previous months, with US$ 13.7 billion deployed in 43 deals. Read all about their recent developments at the Global SWF Times.
However, the main theme of 2026 so far is not about transactions, but about reorganizations:
In Abu Dhabi, the government announced within a few weeks (i) a new board and leadership for the newly formed SWF, L’IMAD; (ii) that L’IMAD would absorb CYVN and its assets; (iii) that ADQ’s CEO Mohamed Al Suwaidi would be transferred to Lunate; and (iv) that L’IMAD would take over the portfolio of ADQ.
These were huge developments that we covered on the ground and that we analyze in detail in our monthly report, including how the financial muscle of the key leaders of the emirate is affected, and the profile of the three resulting, massive SWFs: ADIA, Mubadala and L’IMAD.
In parallel, the Swedish pension system is also being reorganized as the five buffer funds become three: AP2 takes over AP6, and AP1 is split into AP3 and AP4.
We analyze the state of play and the evolution of the Swedish pension funds and discuss with the CEO of the fund of the month, AP2, Ms. Eva Halvarsson, about the fund’s resulting portfolio and outlook.
The February report can now be accessed at https://globalswf.com/reports/february2026 - if your firm is a subscriber of Global SWF and you forgot your password, you can always reset it with your email at https://globalswf.com/password/reset. And if your firm is not a subscriber yet, you can reach out to us to discuss.
We remain at your disposal should you want to discuss any of the topics in detail.
Best wishes,
The Global SWF Team