MIDEAST MONEY NEWSLETTER: This week's Mideast Money newsletter focuses on Gulf SWFs massive investment spree in 2024, and what it means for their ability to project themselves and their respective government owners on the world stage:
That the Gulf’s various sovereign wealth funds have become some of the most dominant players in global dealmaking has rarely been in doubt in the past few years. Figures for 2024’s deal activity demonstrate it beyond all doubt.
Collectively, five wealth funds controlled by Abu Dhabi, Qatar and Saudi Arabia deployed $82 billion last year, accounting for more than 60% of all sovereign wealth fund investments, according to Global SWF. These entities regularly feature in the top 10 global sovereign dealmakers.
The bigger question is how much these funds are driven by the quest for returns, and how much by their nations’ domestic and foreign policy priorities. That may become even more acute as Gulf states look to use their oil wealth to position themselves at the center of industries like artificial intelligence.
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