“Oil Five” Sovereign Wealth Funds Pass $4 Trillion Mark

The sovereign wealth funds of the Gulf Cooperation Council members topped $4 trillion last year, which was an all-time high. Called the “Oil Five”, the group of top sovereign wealth funds includes three entities from the United Arab Emirates, one from Saudi Arabia, and the Qatar Investment Authority. The five invested a total $75.6 billion last year, which was a decline on 2022 investments, the Khaleej Times reported, citing data from a report by Global SWF. The Saudi Public Investment Fund and the Qatar Investment Authority were the…