Kamar Jaffer

Sovereign wealth funds (SWFs) have entered a new era of global influence, sophistication, and strategic investment. Their activity increasingly targets innovation and transformation, funding energy transition projects, digital infrastructure, biotech, and frontier technologies, while also reinforcing domestic industrial strategies and capital market development at home.

The global private markets landscape is undergoing a profound transformation, marked by rapid growth, heightened competition, and a wave of innovation that is reshaping investment strategies and fund structures. Private markets are attracting unprecedented attention from institutional investors, sovereign wealth funds (SWFs), and family offices worldwide, with Preqin projecting their value will rise from USD18trillion(trn) in 2024 to over USD29trn by 2029.

A challenging fundraising environment, the rise in M&A activity and the capital requirements necessary to bridge funding gaps are key developments which have led fund managers to increase their offering of co-investment opportunities, while simultaneously using these co-investments to bolster their relationships with existing and new investors.