IFSWF

What IFSWF does

The International Forum of Sovereign Wealth Funds (IFSWF) is a non-profit, member-owned organization incorporated in the City of London in 2014 and tracing its origins to a 2008 International Working Group convened by the IMF. It represents approximately 50 sovereign wealth funds globally and serves as the only organization established and owned by SWFs for their benefit. Its core product is the Santiago Principles, a trademarked framework of 24 Generally Accepted Principles and Practices (GAPP) that constitutes the globally accepted governance standard for SWFs, with all full members voluntarily implementing them and publishing triennial self-assessments. Membership requires self-identification against the Santiago Principles definition and is structured as full members (fee-paying) and associate members (fee-exempt), creating a subscription-based recurring revenue model funded by sovereign institutional dues.

IFSWF's underlying technology is a proprietary database of SWF direct equity investments from January 2015 onward, sourced from regulatory filings, stock exchange disclosures, and press releases rather than commercial M&A databases. The database covers more than 60 state-owned investors and underpins the Annual Review publication (covering 2017-2023), an interactive Tableau dashboard, and the joint annual IFSWF-OPSWF Hidden Currents climate change survey (sixth edition in 2026, with 31 SWF respondents). Analytical differentiation comes from the proprietary 'Net Score' methodology that recasts a customer-research scoring concept for investment committee decision-making. The organization distributes content through the monthly IFSWF Direct newsletter, a 2026-launched 'Sovereign Voices' podcast, the 'How We Work' methodology series, research publications, and in-person convenings including the annual meeting (recently in Abu Dhabi, 2022 and 2025) and knowledge-sharing workshops. The IFSWF is governed by a five-member board elected by the membership every three years and operates with a small London-based secretariat; it is not venture-backed, has no parent company, and discloses no revenue figures.

Name

IFSWF

Legal name

International Forum of Sovereign Wealth Funds

Website

https://ifswf.org

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

1–10 employees

Short description

IFSWF is a London-based non-profit, member-owned organization representing approximately 50 sovereign wealth funds. It sets the trademarked Santiago Principles governance framework, publishes the Annual Review and annual climate survey, and convenes members through annual meetings, workshops, and research partnerships.

Ownership category

akta.pro rank

Product category

Sovereign Wealth Fund Governance and Member Association Services

NAICS

Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525)

SIC

International Affairs (9721), Foreign Governments (8888)

akta.pro primary industry

Sovereign Wealth Funds (SWFs) (FSAAAGAD)

akta.pro secondary industry

Fund Governance Support (Board/Trustee, Minutes, Policies, Oversight) (FSAAAMAH)

Keywords

• Sovereign wealth fund governance
• Santiago Principles framework
• SWF annual review
• Sovereign investor networking
• SWF research publications

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Technology or R&D, Marketing or Sales

Revenue model

1. Membership Fees: Full members pay membership fees as part of their obligations; associate members are exempt from fees

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

IFSWF is a voluntary, member-owned non-profit that convenes approximately 50 sovereign wealth funds (over half of the world's SWFs) around the Santiago Principles governance framework. It provides standard-setting through 24 Generally Accepted Principles and Practices, member self-assessments, a proprietary database of SWF direct equity investments, an annual review of SWF activity, joint climate surveys, a members-only newsletter, podcasts, research publications, and annual meetings and workshops that facilitate peer learning, knowledge sharing, and representation to the global financial community.

Product overview

IFSWF is a voluntary membership organization owned by sovereign wealth funds, not a technology product company. Its 'offerings' are standards, publications, and programs: the Santiago Principles framework (24 governance principles with associated self-assessments), the Annual Review (investment analysis based on IFSWF's proprietary database), the annual IFSWF-OPSWF Joint Climate Survey, the IFSWF Direct newsletter, the Sovereign Voices podcast, the How We Work content series, research publications, and member events/workshops. These are informational and governance resources, not software products. The organization does not offer a unified platform with modules or a SaaS product.

Differentiator

Problem solved

Functional benefit

Products and services

• Santiago Principles Framework Set of 24 Generally Accepted Principles and Practices (GAPP) defining governance, accountability, transparency, and prudent investment practices for sovereign wealth funds; voluntarily implemented by all full IFSWF members.
• Santiago Principle Self-Assessments Member-produced principle-by-principle qualitative self-assessments of how each sovereign wealth fund implements the Santiago Principles; reviewed every three years and published on the IFSWF website.
• IFSWF Annual Review Annual flagship publication providing comprehensive analysis of sovereign wealth fund investment activity, drawn from IFSWF's proprietary database of direct equity investments since 2015.
• IFSWF Data Project Proprietary database of sovereign wealth fund direct equity investments grouped by private equity, infrastructure, and real estate asset classes, tracking more than 60 state-owned investors.
• IFSWF-OPSWF Joint Climate Survey (Hidden Currents) Annual joint climate change survey with the One Planet Sovereign Wealth Fund Network tracking how sovereign wealth funds integrate climate into investment decisions, governance, and reporting.
• IFSWF Direct Newsletter Monthly members-only newsletter with member spotlights, research highlights, and industry news; published in edited form for the public and now offered with audio companion conversations.
• Sovereign Voices Podcast Podcast series featuring candid conversations with sovereign wealth fund leaders, member practitioners, and ecosystem voices on themes shaping sovereign capital.
• Events and Workshops (Annual Meetings, CRO Risk Forums, General Counsel Summits) In-person and online events including Annual Meetings, regional dialogues, CRO Risk Forums, General Counsel Summits, and topic-specific workshops covering investment practices, governance, and climate.
• Research Publications Library Library of research reports, case studies, and white papers covering climate change, ESG integration, private markets, governance, and institutional investor behaviour; includes publications from 2015 onward.

Quantifiable outcome

• Six consecutive annual climate change surveys with OPSWF tracking evolving SWF approaches
• +1 more outcomes

Named customers15 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Ten partnerships are on record, tiered core and supporting.

• Spain Growth Fund (Cofides and Qatar Investment Authority)coreOthers · 1 May 2026€300 million joint investment fund between Spain's Cofides and Qatar Investment Authority to promote Spain's energy transition and digital transformation, focusing on Spanish SMEs in future-oriented industries. Both are IFSWF members.
• One Planet Sovereign Wealth Fund Network (OPSWF)coreStrategic or Co-development Partner · 1 April 2026Six-year partnership conducting joint annual climate change surveys tracking how sovereign wealth funds integrate climate into investment decisions. The 2026 Hidden Currents report represents the sixth edition of this collaborative research initiative.
• Galaxy Orientis China-ASEAN Investment Platform (CIC, INA, SOFAZ)coreOthers · 1 April 2026Trilateral sovereign-led private equity platform established by China Investment Corporation, Indonesia Investment Authority, and State Oil Fund of Azerbaijan. First close of approximately $520 million targeting $1 billion final size, focused on China-ASEAN corridor investments. CIC and SOFAZ are IFSWF Board members; all three are IFSWF members.
• State Street CorporationsupportingStrategic or Co-development PartnerResearch partnership producing reports on institutional investor and sovereign wealth fund activity, including pandemic impact studies and risk sentiment analysis, utilizing State Street's dataset of unique indicators covering over $38 trillion in assets
• InvescosupportingStrategic or Co-development PartnerAnnual survey partnership examining SWF macroeconomic views and global investment environment, producing reports such as 'The rise of a bipolar world' examining US-China tensions and COVID-19 impact
• Franklin TempletonsupportingStrategic or Co-development PartnerResearch partnership producing 'Investing for Growth and Prosperity: In Africa, sovereign wealth funds focus on G, S and E' report based on surveys and interviews with officials from 11 African countries
• PwCsupportingStrategic or Co-development PartnerPartnership examining SWF relationships and partnerships in private markets, producing 'Partnering for Success: Sovereign Wealth Fund Investments in Private Markets' report
• GIC and PGIMsupportingStrategic or Co-development PartnerJoint research on portfolio construction, producing 'Building a Better Portfolio: Balancing Performance and Liquidity' framework linking top-down asset allocation with bottom-up private-asset investing
• International Monetary Fund (IMF)supportingOthersHistorical partnership from IFSWF's origins; IMF convened 2007 Roundtable of Sovereign Asset & Reserve Managers facilitating IFSWF's establishment
• Fletcher School at Tufts UniversitysupportingStrategic or Co-development PartnerAcademic partnership developing guidelines for Santiago Principle self-assessments and providing analytical essays on governance best practices

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• International Monetary Fund (IMF): Founding institutional partner that convened the 2007 Roundtable of Sovereign Asset & Reserve Managers that led to IFSWF's creation. IMF engages the same sovereign membership base on macroeconomic policy, reserve management, and SWF oversight, providing a broader institutional alternative.
• Organisation for Economic Co-operation and Development (OECD): International policy and standards body that engages the same sovereign and institutional investor ecosystem on investment governance, corporate governance, and responsible business conduct. Provides overlapping frameworks (e.g., Guidelines on Corporate Governance of SOEs) that compete with the Santiago Principles.
• Bank for International Settlements (BIS): International financial institution serving central banks and monetary authorities. Overlaps with IFSWF on reserve and sovereign asset management policy, with stronger technical authority on macro-prudential matters.
• World Bank Group / IFC: Multilateral development institution that engages sovereign wealth funds as co-investors and policy counterparts. Overlaps with IFSWF on development-mandate funds and infrastructure/PE co-investment platforms.
• Global Financial Markets Association (GFMA): Global industry association representing banks, asset managers, and market infrastructure on cross-border financial regulation. Engages similar sovereign and institutional members on capital markets policy, providing an alternative convening venue.

Regional players

• Asian Development Bank (ADB): Regional multilateral institution that engages Asian SWFs and central banks as members and co-investors, including IFSWF members like GIC and KIC. Provides a regional convening and investment alternative to IFSWF for Asia-focused sovereign capital.

Direct peers

• International Corporate Governance Network (ICGN): Member-funded governance standards body promoting corporate governance principles globally. ICGN's investor-led governance framework overlaps with IFSWF's standards-setting role for institutional investors, including sovereign asset owners.
• One Planet Sovereign Wealth Fund Network (OPSWF): Direct peer and joint research partner of IFSWF; together they produce the annual Hidden Currents climate survey series. OPSWF is a parallel SWF-focused network targeting climate alignment, with overlapping membership and a similar convening model.
• Principles for Responsible Investment (PRI): UN-supported signatory network promoting responsible investment principles among institutional investors, including SWFs. PRI competes with IFSWF on ESG and governance standardization for sovereign and large institutional investors.

Emerging players

• Sovereign Wealth Fund Institute: Independent data and research provider focused on sovereign wealth funds. Competes with IFSWF's Annual Review and IFSWF Data Project on benchmarking and analytics, but is a commercial entity without standards-setting authority.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/ifswf

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IFSWF