Coverage, charts, video and research on Explainers for universal owners.
The difference between an asset owner and an asset manager is not semantic — it determines who bears investment risk, who sets strategy, and who is accountable to beneficiaries.
Singapore's Temasek is not a traditional sovereign wealth fund but something harder to categorise — a state-owned investor that holds direct stakes in companies and compounds returns over decades.
How Qatar built one of the world's most influential sovereign wealth funds, what it owns, and how it deploys capital across global markets.
When an investor owns a slice of everything, one company's externalities become another holding's costs. The idea that reframed how the world's largest funds think about risk.
Abu Dhabi's strategic investor posted one of its most active years in 2025. How Mubadala works, how it differs from ADIA and PIF, and why AI infrastructure is its new frontier.
From a domestic holding company to one of the world's most consequential investors: how PIF works, what it owns, and what its 2026-2030 strategy signals.
The market for second-hand private equity stakes set another record in 2025. How secondaries work, who sells, who buys, and why the market has become core institutional infrastructure.
Why every private equity fund looks like a loser in year two — and why disciplined allocators don't care.
Why falling public markets can leave pension funds and endowments 'overallocated' to private equity without buying a single new asset — and what allocators actually do about it.
How institutions delegate their portfolios to an outsourced CIO, why the model grew into a multi-trillion-dollar market, and what they give up in return.
When one family builds its own office and when several share one — the cost, control, privacy and scale trade-offs that decide it.
How non-bank lending became a multi-trillion-dollar asset class, why pensions and sovereign funds keep allocating to it, and where the risks sit.
Research, charts, video and podcast analysis for the institutions investing at the scale of the world.
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