Introduction

PIF, Mubadala, Khazanah, Temasek, ADQ. The names are familiar, but the operating models behind them are surprisingly varied. Some sit closer to the state than others. Some are holding companies in all but name, others run something closer to a global investment platform. What they share is the demand to combine commercial returns with strategic purpose, and the governance challenge that follows.

This training course looks at how that combination is made to work. We examine mandate design, the boundary between owner and management, the practical mechanics of investment selection, and the governance of portfolio companies. The aim is to leave participants with a clearer view of what good looks like and a sharper sense of where their own institutions can improve.

Key focus areas include:

Key Learning Outcomes

Participants will leave the training course able to:

Training Methodology

The training course is built around case discussion as much as instruction. Participants work through real fund structures, real mandate documents, and real governance dilemmas. Where the answers are contested, we say so. The aim is judgement, not just knowledge.

Public Investment Funds and Strategic State Capital

Who Should Attend?

The training course is well suited to:

  • Board members and senior executives of public investment funds
  • Officials within ministries of finance, economy, and planning
  • Investment professionals, portfolio managers, and asset class specialists
  • Governance, compliance, and assurance leaders
  • Legal advisers, policy advisers, and corporate secretaries
  • Senior professionals within state-owned enterprises and government-linked companies

Course Outline

Day 1

Public Investment Funds: Purpose, Models, and Mandate

  • Distinguishing public investment funds from sovereign wealth funds
  • Strategic development funds and the national transformation mandate
  • Fund archetypes: holding companies, investment platforms, and hybrid models
  • Comparative review of PIF, Mubadala, Khazanah, Temasek, ADQ, and similar vehicles
  • Mandate design, performance expectations, and dual-objective frameworks
Day 2

Board Governance and Decision Architecture

  • OECD Guidelines on the Corporate Governance of State-Owned Enterprises
  • Board composition, independence, and fit-and-proper standards
  • Investment committee, audit committee, and risk committee structures
  • Delegation of authority and reserved decisions
  • Board effectiveness review and performance evaluation
Day 3

Investment Strategy, Selection, and Approval

  • Investment policy, strategic asset allocation, and pipeline development
  • Investment selection: commercial, strategic, and impact criteria
  • Due diligence, valuation, and approval workflows
  • Risk-adjusted return, hurdle rates, and the cost of public capital
  • Managing concentration, vintage, and liquidity risk
Day 4

Portfolio Company Oversight and Active Ownership

  • The state as active shareholder
  • Director nomination, board representation, and shareholder rights
  • Portfolio company performance, reporting, and intervention
  • Governance of national champions and listed subsidiaries
  • ESG, sustainability, and value creation programmes
Day 5

Accountability, Transparency, and Strategic Reporting

  • Reporting to government, parliament, and the public
  • Transparency benchmarks and disclosure expectations
  • Conflicts of interest: shareholder, regulator, and beneficiary roles
  • Managing political transitions and mandate continuity
  • Case studies and action planning

International Standards & Professional Alignment

Our training courses are aligned with internationally recognised professional standards and frameworks across leadership, strategy, finance, governance, risk, compliance, and audit. By integrating globally trusted models, we ensure learners develop practical, relevant, and industry-recognised capabilities.

Our trainings draw on leading international standards and professional frameworks, including ISO, ISACA, COSO, OECD, IIA, FATF, Basel, IFRS/ISSB, GRI, NIST, CPD, ILM and the OECD AI Principles. This alignment ensures consistency with global best practices across financial management, risk oversight, digital governance, sustainability, and strategic decision-making..

Designed in alignment with globally recognised professional bodies, our courses support continuous professional development, strengthen organisational capability, and provide clear pathways toward professional certifications valued worldwide.

Ready to Take the Next Step?

Reserve your slot today and start your learning journey with us.

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