Turkish Wealth Fund Breaks into Global Top 10, Reaches $360 Billion in Assets
ISTANBUL – Teh Turkish asset Fund (TVF) has ascended to become one of the world’s largest sovereign wealth funds, ranking among the top 10 globally with $360 billion in consolidated assets as of year-end 2024. This milestone, detailed in a new report by Global Sovereign Wealth Funds (Global SWF) titled “Türkiye Asset Fund: 2024 performance, 2025 strategy and roadmap,” marks a notable leap forward for the Turkish financial landscape.
According to the report’s calculations based on the 2024 dollar/TL exchange rate, TVF’s total assets reached TL 12.7 trillion ($360 billion), surpassing Abu Dhabi-based Mubadala for the first time. The fund’s self-resources grew to TL 2 trillion ($58 billion), with an annual net profit of TL 371.4 billion ($11.3 billion). A robust cash position of TL 1.3 trillion and a low indebtedness ratio further bolster the fund’s financial strength.
Throughout 2024,TVF’s consistent export activity attracted considerable international investor interest. Demand for its $1 billion Eurobond offering in September exceeded $10 billion, and its Sukuk program reached $1 billion for 2025. The fund also diversified its Islamic financing options with $600 million in Murabaha transactions.
A successful syndication loan, attracting participation from 20 banks across 12 countries, underscored TVF’s growing reputation as a reliable and stable exporter in international markets.
strategic financial maneuvers within Turkey also contributed to the fund’s success.Refinancing for Türk Telekom reduced the company’s interest burden by over $150 million and increased adaptability in its dividend distribution policy.Successful financing processes for Türkiye Sigorta and Türkiye Hayat Emeklilik further strengthened the long-term depth of the Turkish insurance sector.
Global SWF’s analysis highlighted that TVF’s regular export model fosters international investor confidence, with steps taken in the telecom sector specifically contributing to the progress of Turkey’s capital markets.
