Türkiye Wealth Fund’s investments since inception reach $18 billion

ANKARA

Türkiye Wealth Fund (TVF) has carried out a total of $18 billion in investments since its establishment, through capital increases, mergers and acquisitions and greenfield projects, general manager Salim Arda Ermut said.

Speaking at parliament’s Planning and Budget Commission, Ermut highlighted that as of 2025 the fund’s portfolio spans seven different sectors, comprising 34 companies, two licenses and 46 real estate assets.

Ermut stated that the fund’s total assets rose from 9.4 trillion Turkish Liras at the end of 2023 to 12.7 trillion liras, marking a 36 percent increase. In dollar terms, assets grew from $318 billion to $360 billion. He emphasized that financial services, energy and mining, as well as transportation and logistics, played a leading role in this expansion.

With $360 billion in assets, TVF has now entered the top 10 sovereign wealth funds globally, according to the international ranking by Global SWF, according to Ermut.

He also underscored that consolidated revenues showed a 72 percent growth, while consolidated net profit climbed from 321 billion liras to 371 billion liras.

Ermut further noted that earnings before interest, taxes, depreciation and amortization (EBITDA) rose from 535 billion liras in 2023 to 839 billion liras in 2024, representing a 57 percent increase. In dollar terms, this corresponds to approximately 14 percent growth.