Sovereign investors with $29 trillion pivot to energy assets, flag dollar fears

A survey of 90 sovereign wealth funds and 54 central banks managing around $29 trillion in assets showed a pivot toward energy security and energy transition infrastructure, with 80% citing these as the most credible resilient investments. Infrastructure reached 9% of sovereign wealth fund assets in 2026. Dollar concerns deepened, with 61% of central banks saying US debt levels negatively impact the dollar's reserve status, up from 20% in 2024, while one-third of respondents plan to boost gold holdings as part of diversification.