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Gulf sovereign wealth funds

The six Gulf Cooperation Council states hold 28 of the entities on our list: 15 in the United Arab Emirates, 5 in Kuwait, 4 in Saudi Arabia, 2 in Bahrain, and 1 each in Qatar and Oman.

They include some of the oldest and best-known state investors, such as the Kuwait Investment Authority, the Abu Dhabi Investment Authority, the Qatar Investment Authority and Saudi Arabia's Public Investment Fund, as well as Mubadala, ADQ, the Investment Corporation of Dubai, the Oman Investment Authority and Bahrain's Mumtalakat.

Comparing them takes care. ADIA, KIA and QIA do not publish their total assets, so the figures you see are outside estimates. PIF publishes both assets under management and a larger consolidated total. ADQ, ICD and Mumtalakat publish consolidated balance sheets that include operating companies. These are not the same measure, so our table labels each one and does not add them up.

This page also shows who owns what: how the funds in Abu Dhabi and Dubai relate to each other and to their governments, based on each fund's own disclosures.

Funds in the Gulf (28)

28 shown
FundCountryTypeSize, as publishedTransparencyFounded
Abu Dhabi Investment Authority (ADIA)United Arab Emirates (Abu Dhabi)
Middle East
Savings and future generations fundAbout USD 1.1T Estimate
Published estimate,
5.51976
Kuwait Investment AuthorityKuwait
Middle East
Savings and future generations fundAbout USD 1T Estimate
Published estimate,
3.51953
Public Investment Fund (PIF)Saudi Arabia
Middle East
Strategic development fundSAR 3,396B
Assets under management,
8.01971
Qatar Investment Authority (QIA)Qatar
Middle East
Savings and future generations fundAbout USD 580B Estimate
Published estimate,
4.02005
SAMA Foreign HoldingsSaudi Arabia
Middle East
Reserve investment corporationSAR 1,827B
Total assets (balance sheet)
5.51952
Investment Corporation of Dubai (ICD)United Arab Emirates (Dubai)
Middle East
State holding companyAED 1,680B
Total assets (balance sheet),
8.02006
Mubadala Investment CompanyUnited Arab Emirates (Abu Dhabi)
Middle East
Strategic development fundAED 1,414B
Assets under management,
9.02002
ADQ and L'IMAD HoldingUnited Arab Emirates (Abu Dhabi)
Middle East
State holding companyAED 996.8B
Total assets (balance sheet),
7.02018
XRG, ADNOC international investment company (Abu Dhabi)United Arab Emirates (Abu Dhabi)
Middle East
Strategic development fundUSD 150B+ Estimate
Published estimate
4.02024
Dubai HoldingUnited Arab Emirates (Dubai)
Middle East
State holding companyAED 500B
Assets under management
4.52004
Emirates Investment Authority (EIA)United Arab Emirates
Middle East
Savings and future generations fundAbout USD 116B Estimate
Published estimate,
3.52007
LunateUnited Arab Emirates (Abu Dhabi)
Middle East
Fund of funds or co-investment platformMore than USD 115B
Assets under management,
4.02023
National Development Fund (NDF)Saudi Arabia
Middle East
Strategic development fundAbout SAR 430B
Committed or authorised capital,
4.02017
Dubai Investment FundUnited Arab Emirates (Dubai)
Middle East
State holding companyAbout USD 80B Estimate
Published estimate,
2.52023
Oman Investment Authority (OIA)Oman
Middle East
Strategic development fundOMR 22.922B
Total assets (balance sheet),
7.52020
MGXUnited Arab Emirates (Abu Dhabi)
Middle East
Strategic development fundUSD 49B
Committed or authorised capital,
5.02024
Mumtalakat Holding CompanyBahrain
Middle East
State holding companyBHD 7.22B
Total assets (balance sheet),
7.52006
Awqaf and Islamic Affairs Fund (Kuwait)Kuwait
Middle East
Savings and future generations fundKWD 1.47B
Portfolio value,
2.01993
Gulf Investment Corporation (GIC), KuwaitKuwait
Middle East
Strategic development fundUSD 3.50B
Total assets (balance sheet),
9.51983
Bahrain Future Generations Reserve FundBahrain
Middle East
Savings and future generations fundUSD 1.11B
Total assets (balance sheet),
6.52006
WafraKuwait
Middle East
State holding companyKD 119.0M
Net assets or equity,
4.01994
Abu Dhabi Fund for DevelopmentUnited Arab Emirates (Abu Dhabi)
Middle East
Strategic development fundNot disclosed
Total assets (balance sheet),
5.01971
Ciyada Development Fund
Proposed
Kuwait
Middle East
Proposed or pipeline fundNot disclosed
Announced target, not current assets
0.0
Dubai WorldUnited Arab Emirates (Dubai)
Middle East
State holding companyNot disclosed
Total assets (balance sheet)
2.52006
EDGE GroupUnited Arab Emirates (Abu Dhabi)
Middle East
State holding companyNot disclosed Estimate
Published estimate
3.52019
Fujairah HoldingUnited Arab Emirates (Fujairah)
Middle East
State holding companyNot published Estimate
Published estimate
0.5
Saudi Technology Development and Investment Company (TAQNIA)Saudi Arabia
Middle East
Strategic development fundNot published
Total assets (balance sheet)
0.52011
Sharjah Asset ManagementUnited Arab Emirates (Emirate of Sharjah)
Middle East
Strategic development fundNot published
Total assets (balance sheet)
3.02008

Disclaimer

Informational only. SovereignWealthFunds.com is an independent public-source reference. It is not affiliated with or endorsed by any fund named on it, and it is not investment, legal or tax advice. Figures are as of the dates shown next to them and may have changed; please read each fund's official pages, linked on its profile. To report an error, use the contact page. Copyright SovereignWealthFunds.com. All rights reserved.

Richard C. Wilson

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I'm Richard C. Wilson, founder of Family Office Club. I read the messages that come in through this site myself. Text or WhatsApp me at (808) 600-9260, or email Richard@SovereignWealthFunds.com. Thank you.

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