It appears not. As a cohort they are largely benchmark huggers with varying degrees of core-satellite active-passive combinations. To further answer this, I examined SWF activity during multiple periods of extended market dislocation as well as economic and financial crisis. In examining history, one period stands out however, where 12 SWFs were very active in distressed deals deploying huge amounts of capital. This was during the global financial crisis of 2007-08 where these deep pools of permanent capital participated extensively in bank recapitalizations, for which they were well rewarded. I have reconstructed these transactions as well a provided the market reaction by way of augmenting flavor.
At ActiveAllocator.com we continue to monitor deal activity as well as research notable historic transactions for lessons.