Who are the powerbrokers controlling $3T of global wealth?
investmentnews.comThe Middle East is home to some of the world’s largest sovereign wealth funds. Overseeing close to $3 trillion of assets, these investing giants have become key players in global dealmaking.
Flush with cash from last year’s commodity boom, entities from Abu Dhabi Investment Authority to Saudi Arabia’s Public Investment Fund have splashed out billions of dollars on everything from technology and finance to sport, in countries spanning Australia to Canada.
That’s attracted top names in global finance, from Ray Dalio to Rajeev Misra, who’re working closely with the influential heads of these funds.
The Abu Dhabi royal, born in the late 1960s, helms a $1.5 trillion empire encompassing two wealth funds, the region’s most important private investment firm, the country’s largest lender and its biggest listed corporate. He’s also one of two deputy rulers in Abu Dhabi, the United Arab Emirates’ national security advisor and brother to its president, giving him more clout than most others in the region.
Abu Dhabi Investment Authority, helmed by Sheikh Tahnoon since March, has been the second-biggest spender among the main Middle East wealth funds since the start of 2022, according to data from Global SWF. As chairman of ADQ, Sheikh Tahnoon also oversees a fund that’s snapped up assets worth billions in Egypt and pledged investments to help shore up Turkey’s economy. It’s also been at the forefront of deals orchestrated with an eye on food security, including an agreement to buy a stake in Louis Dreyfus Co.
A brother to Sheikh Tahnoon and UAE President Mohammed bin Zayed, Sheikh Mansour is perhaps best known globally as the owner of Manchester City Football Club. He’s one of the emirate’s most influential businessmen.
The
Read more on investmentnews.com
