Sovereign wealth funds in the Middle East

Top 10 Sovereign Wealth Funds in the Middle East

Abu Dhabi Investment Authority ( Abu Dhabi Investment Authority (ADIA) ) – $709 billion

ADIA, the sovereign wealth fund of Abu Dhabi, invests on behalf of the government of Abu Dhabi, which is both the capital of the United Arab Emirates and the Emirate of Abu Dhabi. Despite being located in a city with a population of just 1.5 million, ADIA's assets amounted to $709 billion at the beginning of 2023. ADIA invests in over two dozen asset classes and subcategories across the globe and was founded in 1976.

Kuwait Investment Authority ( Kuwait Investment Authority ) – $708 billion

The Kuwait Investment Authority, established in 1953, is not only the oldest sovereign wealth fund but also one of the largest. Its mission is to provide an alternative to oil reserves by achieving long-term investment returns and ensuring the financial security of future generations in Kuwait.

Saudi Arabia Public Investment Fund ( Public Investment Fund (PIF) ) – $607 billion

With over US$600 billion under management, the Public Investment Fund (PIF) is Saudi Arabia's largest sovereign wealth fund. Investing in global stocks, strategic global investments such as infrastructure, energy and other real assets in foreign countries, the PIF also funds Saudi Giga-Projects, which are among its most high-profile investments. In 2023, Saudi Arabia is projected to become the world's fastest-growing economy.

SAMA Foreign Holdings – $490 billion

SAMA Foreign Holdings, Saudi Arabia's second-largest sovereign wealth fund, operates under the Saudi Central Bank and has a relatively conservative investment strategy, primarily investing in bonds, bank notes, and stocks.

Qatar Investment Authority ( Qatar Investment Authority ) – $461 billion

Established in 2005 to safeguard and enhance the wealth of Qatar, the Qatar Investment Authority (QIA) has a diverse investment portfolio across major global markets, asset classes, and sectors. The country's strong economic growth in recent years has been fueled by the petroleum and gas industries, as well as successful start-ups, business, and tourism sectors.

Investment Corporation of Dubai ( Investment Corporation of Dubai  – $299 billion

The Investment Corporation of Dubai is the investment arm of the Government of Dubai, the most populous city in the United Arab Emirates. It has a focused portfolio with seven segments, including banking and finance services, transportation, oil and gas, industrial, hospitality and leisure, real estate and construction, and retail and other holdings.

Abu Dhabi Mubadala Investment Company ( Mubadala ) – $284 billion

The Mubadala Investment Company is an Abu Dhabi Government-backed sovereign wealth fund and is the second-largest of its kind. Its investment portfolio covers more than 50 countries across the globe, and it mainly invests in private investments, stocks, and alternatives.

Abu Dhabi Developmental Holding Company ( ADQ ) – $160 billion

The list of the top 10 largest sovereign wealth funds in the Middle East includes a third fund from Abu Dhabi, the Abu Dhabi Developmental Holding Company, with total assets of around $160 billion. Its investments are focused mainly on major enterprises within Abu Dhabi.

Emirates Investment Authority ( Emirates Investment Authority )  – $87 billion

The Emirates Investment Authority manages investments for the United Arab Emirates, including notable equity stakes in telecommunications companies Etisalat and Du. The sovereign wealth fund has also awarded significant investment mandates to global asset managers.

Oman Investment Authority ( Oman Investment Authority ) – $20 billion

The Oman Investment Authority is the sovereign wealth fund of Oman, managing approximately US$20 billion as of January 2023. Its investments are diversified across 40 countries and are classified into two categories: public markets and private markets. The public market investments include global stocks, fixed-income bonds, and short-term assets. On the other hand, private market investments are focused on real estate developments, logistics, service sector, mining, industrial projects, and technology companies.