A weekly letter on the movements of state capital. Free, by email.
Capital Almanack is an independent data and research publisher covering the world’s largest pools of state-owned and private capital.
The world’s state-owned investors manage well over thirty trillion dollars, yet the figures most often cited for them are stale, unsourced, or untraceable. The Almanack exists to fix that: every number we publish carries its primary source, its as-of date, its original currency, and the exchange rate used — and every institution we cover carries a grade for how verifiable it is.
We publish rankings and research. We do not manage money, advise on investments, or accept payment for placement in any ranking or grade.
The Sovereign 100 — the flagship ranking of state-owned investors
by best-evidenced assets under management.
Disclosure Grades — an A–F score for how verifiable each
institution is, from eight public-evidence criteria.
Institution profiles — a sourced page for every fund we track:
the figure, its basis, its date, and its documents.
Citation. Quote and cite freely with attribution to Capital Almanack
and, where practical, a link. Bulk or commercial redistribution needs written permission.
Corrections. Institutions may submit corrections in writing with
supporting documents; verified corrections are applied with a public changelog entry.
Press. Journalists are welcome to our figures on the same attribution
terms — and to ask for the underlying sources.
Capital Almanack manages no money, advises no one, and sells no placement in any ranking or grade.
That is worth stating plainly, because private-capital data has consolidated into the hands of the firms it measures. BlackRock — the largest asset manager in the world — completed its acquisition of Preqin, the primary private-markets database, in March 2025. PitchBook, its closest analogue, has belonged to Morningstar since 2016.
We hold no client assets, manage no mandates, accept no payment from any institution we cover, and have no commercial relationship with any of them. Grades and ranks cannot be bought. If any of that ever changes, it will be disclosed on this page before it takes effect.
Our figures are free to read and free to cite, our methodology is published in full, and every revision to the record appears in a public changelog.
Corrections, source questions, and press: corrections@capitalalmanack.com. Written correspondence only — it keeps everything on the record, which is rather the point of this publication.