Turkish Sovereign Wealth Fund reaches $160 billion

Turkey’s Sovereign Wealth Fund (SWF) forecasts on its first-ever website that Turkish private and public sector infrastructure investment will reach around $1 trillion over the next 10 years.

A website has been launched for Turkey’s SWF, whose asset size has reached $160 billion. The objectives of the fund are summarized as “contributing to economic growth by ensuring value increase of key public assets, actively deepening capital markets by supporting the introduction of a variety of products, and establishing and managing Turkey’s Sovereign Wealth Fund and sub-funds with the aim of further developing strategically important industries and participating in large scale investments.”

It is noted on the website that Turkey has a planned infrastructure investment of $70 billion annually until 2030, and the public and private sectors will make a total infrastructure investment of $1 trillion in 10 years.

Information on the fund, members of the board of directors as well as introductory information can be found at www.turkiyevarlikfonu.com.tr. Five principles are listed under the title “Our Values,” namely “professional management, transparency, performance orientation, sustainability, risk management and accountability.”

It is stated under the heading of “performance orientation,” that meeting the risk-return expectations in the management of companies will be a primary objective while the heading of “sustainability” indicates that new investment preferences will be managed in a sustainable way independently of external influences.

Under the heading of “risk management and accountability,” it is noted that “SWF will identify the risks that may arise from its operations and report them regularly.” Under the section titled “Why Turkey,” information is provided on infrastructure and investments.

Under the “Planned Investments” tab, 11 projects are listed, led by the Akkuyu Nuclear Power Plant. The size of the Akkuyu Nuclear Power Plant has been specified as $20 billion, followed by health campus projects with $16.1 billion, and the Sinop Nuclear Power Plant with $16 billion.

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