Emirates Investment Authority (EIA)

جهاز الإمارات للاستثمار · United Arab Emirates · Middle East · Founded 2007 · Savings and future generations fund · Not an IFSWF member

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Focus

EIA: what it invests in

Telecoms and mediaFinancial servicesTransport and logistics

Strategic state holdingsPublic equitiesPrivate equityFixed income

Geography Domestic and global

Scale

EIA: how big it is, and on what basis

About USD 116B Estimate

Published estimateAs of 2026-01-05

In US dollars: about USD 116B. Press estimate reported by Khaleej Times; EIA does not publish its size.

Transparency

EIA: what it publishes

3.5 of 10 Band 2 of 5

Published 2 · Partly 3 · Not published 5

Our 10 item score. It measures what is public, not how well a fund is run.

Estimated assetsS16: About USD 116B (press estimate); As of 2026-01-05
Stake in duS8: 50.1%
e& stake moved inS3: 60% (at transfer, 1 January 2008); As of 2026-06-30
GCC company stakesS7: 30+; As of 2026-08-10
FoundedS1: 2007
Transparency scoreS14: 3.5 of 10

At a glance. The Emirates Investment Authority is the sovereign wealth fund of the UAE federal government, set up in 2007. It holds controlling stakes in the two national telecoms groups, e& and du, and a global portfolio run largely through external fund managers. It does not publish its size; press reports put it at about USD 116 billion. The board is chaired by Vice President Sheikh Mansour bin Zayed Al Nahyan. S1 S6 S7 S4

Key points

Holds 50.1 percent of du and a Special Share in e& that gives preferential rights over certain decisions. S8 S3
Has taken more than 30 stakes in companies across the GCC, including Gulf International Bank and the Gulf Investment Corporation. S7
Sets an annual Policy Portfolio and models its asset allocation on high-performing endowments; weights are not published. S9
Sits on the boards of its portfolio companies and works on governance and management depth. S6
A 2021 strategy tied future investment to the UAE development goals in the Principles of the 50. S10
Publishes no annual report, accounts or return figure; in July 2026 the board noted positive returns without a number. S11 S12

Interesting facts

It is the only sovereign wealth fund of the UAE federal government; Abu Dhabi, Dubai and the other emirates run their own. S7
The board includes the federal ministers of economy, industry and investment and the central bank governor. S4
It runs an Investment Leadership Program to train UAE national talent for investment careers. S13

Mandate and goals

Its founding decree tasks it with managing the sovereign wealth of the UAE through a diversified portfolio in key sectors, aiming for lasting financial gains for the country. S1

Deliver long-term, risk-adjusted financial value to the UAE. S9
Hold a widely diversified portfolio and keep risk in underlying assets within set limits. S9
Grow and protect the value of its strategic portfolio companies. S6
Support UAE development goals and raise future levels of investment. S10

How it invests

Industries	Telecoms and media, Financial services, Transport and logistics S6 S7
Asset classes	Strategic state holdings, Public equities, Private equity, Fixed income S9 S6
Stages	Public markets, Growth S6
Geography	Domestic and global. Strategic holdings in the UAE and the GCC; the rest of the portfolio is global S6 S7
Direct / through funds / co-invest	Yes / Yes / Not published S6
Ticket size	No ticket size is published. S14
External managers	Uses a network of global fund managers; names are not published S6
Co-investment programme	Not published S14

Largest holdings: du (Emirates Integrated Telecommunications) (50.1%), e& (Etisalat) S3 S8

Past investments

Year	Investment	Type	Sector	Stage	Stake
2008	e& (Etisalat). Federal government 60 percent holding moved to the EIA on 1 January 2008, with a Special Share. S3	State asset transfer	Telecoms and media	Public markets	60%
Not published	du (Emirates Integrated Telecommunications). Second UAE telecoms operator; the EIA is the majority shareholder. S8 S7	Direct investment	Telecoms and media	Public markets	50.1%
Not published	Gulf International Bank. Bank owned by GCC states. S7	Direct investment	Financial services	Not stated
Not published	United Arab Shipping Company. Container shipping line. S7	Direct investment	Transport and logistics	Not stated
Not published	Gulf Investment Corporation. Investment firm owned by GCC states. S7	Direct investment	Financial services	Not stated

Case studies

e&: holding a national champion S3 S6

What: Took over the federal government stake in Etisalat, now e&, with a Special Share.
When: 1 January 2008
Size: 60 percent stake at transfer
Why: To hold strategic national assets and support their growth through board seats and governance.
Outcome: e& reports the EIA as its main shareholder in 2026 filings.

A 2021 reset toward national goals S10

What: Launched a strategy linking investment to the UAE development goals in the Principles of the 50.
When: November 2021
Size: Not published
Why: To raise future levels of investment in step with national priorities.

Investment process

A board of federal ministers and senior officials, chaired by Sheikh Mansour bin Zayed, oversees the fund and reviews performance; the CEO leads an internal team of investment specialists that sets an annual Policy Portfolio. S4 S11 S9

Committee	Role
Board of Directors	Chair, Deputy Chair and federal ministers; reviews activity and performance S4

Set the annual Policy Portfolio, with endowment-style asset allocation. S9
Research and assess opportunities with a focus on long-term value rather than short cycles. S6
Invest directly in strategic companies or through external fund managers. S6
Join portfolio company boards and work on governance and management skills. S6

How to approach: No proposal process is published. The contact form on the fund website is the only listed route. S13

Size and returns

Headline size: About USD 116B, estimate (Published estimate, as of 2026-01-05) S16
In US dollars: about USD 116B. Press estimate reported by Khaleej Times; EIA does not publish its size.
Returns: the fund does not publish a return figure.

Leadership

Name	Title
Sheikh Mansour bin Zayed Al Nahyan	Chairman; Vice President and Deputy Prime Minister S4
Mohamed Hamad Al Mehairi	Chief Executive Officer S5
Mohamed Hadi Al Hussaini	Deputy Chairman; Minister of State for Financial Affairs S4
Sultan Ahmed Al Jaber	Board member; Minister of Industry and Advanced Technology S4
Abdulla bin Touq Al Marri	Board member; Minister of Economy S4
Mohamed Hassan Al Suwaidi	Board member; Minister of Investment S4
Khaled Mohammed Balama	Board member; Governor of the Central Bank of the UAE S4
Hareb Masood Al Darmaki	Board member S11 S7
Kaltham Hamad Al Ghfeli	Board member S11 S7

Governance and transparency

Legal basis: Federal Decree Law No. 4 of 2007, amended by Federal Decree Law No. 13 of 2009 S1
Oversight: Board chaired by Sheikh Mansour bin Zayed Al Nahyan, with federal ministers as members S4
No annual report or financial statements are published; listed holdings disclose the stake in their own filings. S12 S3
Not an IFSWF member and no Santiago Principles self-assessment is published. S2

Transparency score: 3.5 of 10 (band 2 of 5). Our own 10-item rubric; see the methodology page.

Published: governance and mandate documents, named leadership. S1 S4
Partly published: asset allocation, geographic or sector split, holdings or deal list. S6 S9
Not published: total assets, annual return, long-term returns, audited financial statements, regular reporting schedule. S11 S12 S14

History

Date	Event
2007	Founded under Federal Decree Law No. 4 of 2007. S1
2008-01-01	Federal 60 percent stake in Etisalat transferred in. S3
2009	Founding law amended by Federal Decree Law No. 13 of 2009. S1
2021-11-29	New strategy tied to the Principles of the 50. S10
2025-08-30	CEO meets the Crown Prince of Ajman on cooperation with local entities. S15
2026-07-14	Board meeting reviews performance. S11

For family offices

No co-investment or partner programme is published. The portfolio uses outside fund managers, but there is no public manager intake. S6 S13

Invest alongside the EIA as a shareholder in its listed holdings, e& and du. S8 S3

Reports

Media and resources: https://www.eia.gov.ae/media-resources/ S12

Common questions

How big is the Emirates Investment Authority?

It does not publish its size. Press reports estimate about USD 116 billion. S7

Who runs the EIA?

CEO Mohamed Hamad Al Mehairi. Sheikh Mansour bin Zayed Al Nahyan chairs the board. S4 S5

What are its best-known holdings?

e& (Etisalat), where it holds a Special Share, and du, where it holds 50.1 percent. S8 S3

When was it set up?

In 2007, under Federal Decree Law No. 4 of 2007. S1

Is it an IFSWF member?

No. S2

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Kuwait Investment Authority Kuwait · About USD 1T, estimate
Qatar Investment Authority (QIA) Qatar · About USD 580B, estimate
Awqaf and Islamic Affairs Fund (Kuwait) Kuwait · KWD 1.47B
Citizens Fund (Israel) Israel · USD 2.79B
Bahrain Future Generations Reserve Fund Bahrain · USD 1.11B

All sovereign wealth funds in Middle East · All savings and future generations funds · All funds in United Arab Emirates

Sources

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