Türkiye Wealth Fund among world’s 10 largest sovereign wealth funds

The Türkiye Wealth Fund (TWF) has become one of the world’s 10 largest sovereign wealth funds, reaching a size of $360 billion by the end of 2024, according to Global SWF.

A report by Global SWF, titled Türkiye Wealth Fund: 2024 performance, 2025 strategy, and the road ahead, released Friday showed the TWF’s consolidated assets reached 12.7 trillion Turkish lira or $360 billion, surpassing Abu Dhabi-based Mubadala and ranking among the top for the first time.

The TWF’s equity capital rose to $58 billion, while its annual net profit reached $10.5 billion. The fund’s solid financial structure supported a cash position of $31.4 billion and a low debt ratio.

This year, Türkiye’s sovereign wealth fund attracted tremendous interest from global investors with its regular issuance calendar.

The TWF’s September Eurobond insurance of $1 billion attracted around $10 billion in demand.

The fund’s sharia-compliant sukuk program began at the end of the last year and reached $1 billion this year. The fund’s Murabaha transactions, which exclude interest payments to comply with sharia practices, reached $600 million.

The fund’s syndicated loan was completed with the participation of 20 banks from some 12 countries.

These developments enabled the fund to move away from an opportunistic borrowing model to become a more reliable issuer.

Meanwhile, the TWF’s refinancing of the Turkish network provider and carrier Turk Telekom led to a reduction of $150 million in interest burdens, making dividend distribution more flexible.

The financing for insurers Türkiye Sigorta and Türkiye Hayat Emeklilik completed, strengthening the long-term depth of the sector.

The TWF is recognized for its regular issuance model, which boosts global investor confidence.

The fund’s support to the insurance and telecommunications sectors contributed to Türkiye’s capital markets.

The TWD is now expected to take steps in new horizons, such as green and sustainable bonds, to further expand its investor base.