Information graphic from New York Times. A sovereign wealth fund is a huge heap of money that is controlled by a nation -- say Singapore or Saudi Arabia -- rather than by a private transnational company. The latter is called private equity funds and their investments have been prime movers in global finance for decades. Some of the largest banks and finance companies that are in the current news cycle, like Bear Stearns, or UBS, are good examples of private money. They buy and sell business across national borders.