# Fundo Soberano de Angola

Fundo Soberano de Angola is a Sovereign Wealth Fund based in Luanda, Angola.

## Overview

- **Organization type:** Sovereign Wealth Fund
- **Headquarters:** Luanda, Angola
- **Region:** Africa
- **Address:** Luanda, Angola
- **Founded:** 2012
- **Assets under management:** Undisclosed
- **Website:** fundosoberano.ao
- **LinkedIn:** https://www.linkedin.com/company/fundo-soberano-de-angola-fsdea-oficial
- **Wikidata:** Q17053159

## Regulatory record

- **Reports private funds:** No

## About

Fundo Soberano de Angola is a sovereign wealth fund of the state of Angola, established in 2012 in Luanda. It has made one investment, in Pensana, as part of a PIPE-II deal on August 5, 2022.

## Sectors

- Infrastructure
- Real Estate
- Private Equity
- Agriculture
- Mining

## People

- Armando Manuel — Chairman of the Board of Directors
- José Filomeno dos Santos — Former Chairman

## Questions

### Who runs investment decisions at FSDEA?

The Board of Directors, chaired by Armando Manuel — who co-founded the fund while serving as Angola's Minister of Finance — holds ultimate investment authority. Day-to-day governance was historically complicated by the role of external asset manager Quantum Global, though the fund has been reassembling direct control since the 2018 asset freezes.

### What happened to the FSDEA's assets during the dos Santos investigation?

In 2018, Angolan authorities alleged that former chairman José Filomeno dos Santos orchestrated a $500 million transfer to London-based Credit Suisse accounts. Courts in the UK, Switzerland, and Mauritius subsequently froze approximately $3 billion in assets managed by Quantum Global on behalf of the fund. The recovery and repatriation of those frozen assets has been a central operational challenge since 2020.

### Does FSDEA invest primarily inside Angola or abroad?

The disclosed portfolio is overwhelmingly domestic — the Sheraton Luanda, the Port of Caio, seven large-scale farms, a textile factory, and a eucalyptus concession are all located within Angola. The fund holds at least two cross-border mining exposures: the Longonjo Rare Earths Project in Angola and a mining venture in Mauritania.

### How is the fund's Social Impact Program structured?

The Social Impact Program for Angola (SIPA) was designed to receive a dedicated annual allocation from FSDEA's returns to fund health, education, and community development projects. The program's operational independence and continued funding post-2018 have not been publicly detailed.

### What is FSDEA's relationship with the International Forum of Sovereign Wealth Funds?

FSDEA is a signatory of the Santiago Principles and underwent a voluntary compliance assessment that scored the fund 16 out of 25 — significantly below peers — citing weaknesses in transparency, governance, and risk management frameworks.

### Does the fund accept co-investors for its infrastructure projects?

Yes. In 2024, FSDEA joined the Lobito Corridor Impact Development Platform, a co-investment vehicle with Israeli investor Haim Taib, to develop transport and logistics infrastructure connecting Angola to the Democratic Republic of Congo and Zambia.

## Related profiles

- [Fundo Futuro Classico](https://altss.com/profile/fundo-futuro-classico)
- [Fundo Soberano do Brasil](https://altss.com/profile/fundo-soberano-do-brasil)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/fundo-soberano-de-angola

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