Global Sovereign Wealth Funds Invested 190 Trillion Won in US Last Year... 48% Concentrated in America

Global SWF Annual Report Released
Focus on AI and Digitalization Sectors

Reuters Yonhap News

Sovereign wealth funds (SWFs) and public pension funds (PPFs) worldwide invested approximately 190 trillion won in the United States last year. This amount is nearly half of their total investment. In contrast, capital inflows into major emerging markets dropped by almost one-third compared to the previous year.

According to Bloomberg and Reuters, citing the annual report released by data research firm Global SWF on January 1 (local time), these findings were reported.

Last year, global “state-owned investors” (SWFs and PPFs) invested 131.8 billion dollars (about 190 trillion won) in the United States. This represents a 92% increase from 2024 (68.9 billion dollars). It also accounted for 48% of their total investment last year.

In contrast, investment in China decreased from 10.3 billion dollars (about 15 trillion won) in 2024 to 4.3 billion dollars (about 6.2 trillion won) in 2025. Investment in emerging markets, including China, fell by 28% year-on-year. The share of these investments among state-owned investors last year was only 15%.

Diego Lopez, Managing Director of Global SWF, explained in the report that “there has been a paradigm shift in the countries attracting investment,” noting that the United States benefited from investments focused on digital infrastructure, data centers, and artificial intelligence (AI) companies. He added, “The biggest losers were emerging markets. In particular, China, India, Indonesia, and Saudi Arabia attracted disappointing levels of investment.”

In terms of investment sectors, AI and digitalization received the most attention, with a total of 66 billion dollars (about 95 trillion won) invested.

Meanwhile, as of the end of last year, the total assets under management by sovereign wealth funds worldwide reached 15 trillion dollars (about 22 quadrillion won) for the first time in history.