> You do see some large players like in Canada and Europe, but even they are not similar in size to American pension funds and endowments, let alone other American institutional investors.

Look, I haven't dug into this, but if one wants a fair comparison, then you need to account for the size of an economy. If 330mn people need pensions, then you'll obviously see much larger pension funds. If 400mn people across 27 countries want pensions, these will often end up being national level and will look individually much smaller than the ones from the US, purely because the US has more people.

Unfortunately most European countries don't pension funds. It's a pity...

(Anyway to put another argument: the US can outflow. Why should people invest to a Trumpland?)