Sovereign wealth fund assets to hit $18tn by 2030 as Gulf leads global growth
A new Deloitte Middle East report reveals Gulf Sovereign Wealth Funds (SWFs) continue to dominate the global investment landscape, spearheading an industry-wide expansion that has pushed total assets under management globally to $12tn by the end of 2024 and forecast to reach $18tn by 2030.
The Sovereign Wealth Fund (SWF) landscape has witnessed tremendous growth over the past two years, with new SWFs established around the world, high-profile acquisitions by existing firms, and value of assets under management hitting fresh highs.
Gulf Sovereign Wealth Funds
Gulf funds, which control approximately 40 per cent of global SWF assets and represent six of the ten largest funds worldwide by Assets Under Management (AUM), are reshaping investment strategies amid increasing regional competition and evolving market dynamics.
The total number of SWFs globally has roughly tripled since 2000, reaching approximately 160-170 funds, with 13 new entities established between 2020 and 2023.
The Deloitte report, titled 'Growth in funds, and assets drives SWF's landscape,' reveals that Gulf SWFs have maintained an aggressive investment pace, deploying $82bn in 2023 and an additional $55 billion in the first nine months of 2024.
The five major players which continue to dominate activity in the region are:
Abu Dhabi Investment Authority (ADIA)
Abu Dhabi's Mubadala
Abu Dhabi Developmental Holding Company,
Saudi's Public Investment Fund (PIF)
Qatar Investment Authority (QIA)
Julie Kassab, Sovereign Wealth Fund Leader at Deloitte Middle East, commented: 'The Gulf region continues to be the epicentre of sovereign wealth fund activity, with its major players driving innovation in investment strategies and operational excellence.
'We are witnessing these funds not only expand their geographical footprint but also significantly enhance their internal capabilities, setting new standards for the industry in terms of performance and governance.'
Deloitte reveals several significant trends reshaping the regional SWF landscape, as GCC funds look increasingly towards fast-growing countries outside traditional Western markets.
Deloitte said: 'Gulf funds are strategically pivoting toward Asia, with many establishing new offices throughout Asia-Pacific and substantially increasing allocations to high-growth economies including China, India, and Southeast Asia.
'The sovereign funds have been particularly active in China, investing an estimated $9.5bn in the year ending September 2024. Both Abu Dhabi Investment Authority (ADIA) and Kuwait Investment Authority (KIA) have been ranked in the top 10 shareholders in Chinese A-Share listed firms.
'This represents a strategic opportunity as Western investors reduce their exposure, allowing Middle Eastern funds to leverage their strong political and trade relationships with Beijing.
According to the Deloitte report, Africa is also an area of interest, with the mining sector yielding new opportunities.
The UAE and Saudi Arabia have shown willingness to invest in high-risk extractives ventures in Africa this year, both directly and through their holdings in multinational mining firms.
This comes alongside the emergence of new investment vehicles, particularly 'Royal Private Offices,' which now control an estimated $500bn in assets.
With more entities and more assets now being actively deployed, funds are under increasing pressure to gain a competitive edge, with a stronger focus on internal performance, risk oversight and investment management, to ultimately deliver better returns.
Many Gulf SWFs are now adopting a more proactive approach, becoming more open to divest, demanding better reporting from portfolio companies and more willing to exert influence at board level.
This drive for excellence has also sparked fierce competition for human capital, with high demand for national talent.
Gulf SWFs now employ an estimated 9,000 professionals across their operations. Gulf funds are offering increasingly attractive packages to senior professionals, particularly those with experience at established funds like Singapore's Temasek or Canada's Maple Eight.
Deloitte also notes a growing trend toward protectionism globally, particularly in developing economies, where governments are reassessing their approach to strategic assets.
This shift has led to the creation of new domestically focused funds, often designed to co-invest alongside international partners rather than compete directly with established Middle Eastern players.
Looking ahead, while geopolitical uncertainties and potential commodity price fluctuations may create headwinds, these pressures could drive greater efficiency and innovation in fund management practices.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Business
3 hours ago
- Gulf Business
Foreign investors alert: Saudi approves digital IDs for property ownership
Image credit: Getty Images In a groundbreaking move to open up its real estate sector, Saudi Arabia's Cabinet has approved the use of digital identification for non-resident, non-Saudi foreigners to own property in the country. The decision comes as part of broader efforts to implement the non-Saudi Real Estate Ownership Law, which will come into effect in January 2026, Read- To support the rollout, the General Real Estate Authority will work with the Governance overhaul and committee formation The cabinet also backed governance measures proposed by the Strategic Committee of the Council of Economic and Development Affairs, which include forming a specialised committee within the Real Estate Authority to oversee non-Saudi ownership and usufruct rights. Additionally, the board of the General Real Estate Authority has been restructured, now chaired by its CEO and composed of representatives from various ministries, government entities, and three members from the private sector. Key requirements for foreign buyers In July, the Cabinet formally approved the non-Saudi Real Estate Ownership Law. Just last month, draft executive regulations were published, laying out the conditions for non-resident ownership. To qualify, foreign buyers must activate a digital ID via the Absher platform, open a Saudi bank account, and obtain a local contact number, setting the stage for a more accessible property market for global investors.
Arabian Post
a day ago
- Arabian Post
GWM Brazil Plant Officially Opens with President Lula in Attendance
Iracemápolis, São Paulo – Media OutReach Newswire – 16 August 2025 – In the early hours of August 16 (Beijing time), GWM's Brazil plant officially commenced operations, marked by a grand ceremony for the rollout of its first vehicle, the HAVAL H6 GT. The plant, located in Iracemápolis, São Paulo, was acquired from Daimler Group and has since been upgraded into an intelligent manufacturing base. As GWM's third full-process vehicle manufacturing center overseas, it carries the core mission of serving the Latin American market and acts as a key hub linking Europe, Asia, Southeast Asia, and Latin America. This milestone not only advances GWM's globalization in Latin America but also sets an example of China's high-quality automotive expansion, showcasing innovative collaboration between the Chinese and Brazilian auto industries. GWM Brazil Plant officially begins production with the first HAVAL H6 GT rolling off the line At the opening ceremony, Brazilian President Luiz Inácio Lula da Silva, Vice President Geraldo Alckmin, Chinese Ambassador Zhu Qingqiao, Brazil's Minister of Labor, and other dignitaries joined GWM President Mu Feng, GWM International President Parker Shi, GWM Brazil Region President Zhang Gengshen, and other GWM executives to witness this landmark moment in the company's globalization journey. President Lula personally signed the hood of the first HAVAL H6 GT, marking its final production step before entering the market. After the ceremony, he also posed for photos with factory workers. ADVERTISEMENT In his welcome address, GWM President Mu Feng stated: 'The Brazil plant is not only a strong commitment to the Brazilian market, but also the starting point for building the future together with our Latin American partners. In our global expansion, we adhere to the 'Four New Modernizations': Locally Built, Locally Operated, Globally Cultivated, Supply Chain Integrated. Following international quality standards, we will deliver highly reliable vehicles to the Latin American market.' He further announced that the plant's annual production capacity will gradually increase from 20,000 to 50,000 vehicles, creating over 1,000 direct jobs. Initial models include the HAVAL H9, POER P30, and HAVAL H6, with the H9 and POER P30 scheduled to launch in Brazil this September. Chinese Ambassador Zhu Qingqiao emphasized that since the establishment of diplomatic ties 51 years ago, China and Brazil's comprehensive strategic partnership has continued to deepen, with key areas of cooperation including renewable energy, infrastructure, and manufacturing. He described the Brazil plant as a model of Sino-Brazilian industrial synergy, combining 'Chinese smart manufacturing + Brazilian localization.' He noted that GWM is contributing to economic development and quality job creation in São Paulo and Brazil, and expressed hope for further collaboration in clean energy and digital technology to provide a 'China-Brazil solution' for global climate governance. In his speech, President Lula stressed: 'The GWM Brazil plant is very important for Brazil's national industry. Its inauguration shows that Brazil has the capability to acquire advanced technology and produce vehicles that can compete with those from any country in the world. This means creating jobs, increasing income, and enhancing professional expertise for Brazilians. We hope GWM will make Brazil its production base in Latin America. The Brazilian government stands ready to support businesses and welcomes more Chinese companies to invest here.' Brazilian Vice President Alckmin, the Minister of Labor, and the Mayor of Iracemápolis also gave speeches, jointly opening a new chapter for GWM in Latin America. Guests at the ceremony praised GWM's rapid growth and contributions to Brazil's automotive market and expressed confidence in the company's ability to further drive innovation and transformation in the industry. During the event, the Great Place to Work Institute awarded GWM Brazil the 'Great Place To Work' (GPTW) honor. In addition, GWM announced a donation of 500,000 reais to local schools in Iracemápolis to help improve educational facilities. Located in Iracemápolis, São Paulo, the GWM Brazil plant covers a total area of 1.2 million square meters, with 94,000 square meters of built-up area. It houses welding workshops, robotic painting lines, assembly lines, energy and equipment facilities, and logistics supply systems. With an initial annual production capacity of 50,000 vehicles, the plant is expected to create 1,000 jobs by the end of this year. Initial models will include the HAVAL H9, POER P30, and the HAVAL H6 series. The plant also supports flexible production of multiple energy types, including hybrid (HEV), plug-in hybrid (PHEV), and diesel. ADVERTISEMENT Since entering the Brazilian market in 2021, GWM has reached annual sales of 29,000 units within just three years, ranking 14th in the market. In the first half of this year, GWM sold over 15,700 vehicles in Brazil, up 19.8% year-on-year—17 percentage points above the industry average—demonstrating the company's confidence and determination to expand overseas and compete globally. Rooted in Brazil, expanding across Latin America, and reaching the world, GWM will continue to invest in Brazil, focusing on quality jobs, technological leadership, and R&D. The opening of the Brazil plant marks a new chapter in Chinese automotive globalization. With this plant, GWM will strengthen localized smart manufacturing, deepen its presence in Latin America, and bring its products and services to more global markets. Hashtag: #GWM The issuer is solely responsible for the content of this announcement.
Dubai Eye
a day ago
- Dubai Eye
Trump-Putin summit ends with no ceasefire in Ukraine war
A highly anticipated summit between US President Donald Trump and Russian President Vladimir Putin yielded no agreement to resolve or pause Moscow's war in Ukraine, although both leaders described the talks as productive before heading home. During a brief appearance before the media following Friday's nearly three-hour meeting in Alaska, the two leaders said they had made progress on unspecified issues. But they offered no details and took no questions, with the normally loquacious Trump ignoring shouted questions from reporters. "We've made some headway," Trump said, standing in front of a backdrop that read, "Pursuing Peace." "There's no deal until there's a deal," he added. The talks did not initially appear to have produced meaningful steps toward a ceasefire in the war in Ukraine, the deadliest conflict in Europe in 80 years, a goal Trump had set ahead of the summit. But simply sitting down face-to-face with the US president represented a victory for Putin, who had been ostracized by Western leaders since Russia's full-scale invasion of Ukraine in 2022. Following the summit, Trump told Fox News' Sean Hannity that he would hold off on imposing tariffs on China for buying Russian oil after making progress with Putin. He did not mention India, another major buyer of Russian crude, which has been slapped with a total 50 per cent tariff on US imports that includes a 25 per cent penalty for the imports from Russia. "Because of what happened today, I think I don't have to think about that now," Trump said of Chinese tariffs. "I may have to think about it in two weeks or three weeks or something, but we don't have to think about that right now." Trump has threatened sanctions on Moscow as well but has thus far not followed through, even after Putin ignored a Trump-imposed ceasefire deadline earlier this month. In the Fox News interview, Trump also suggested a meeting would now be set up between Putin and Ukrainian President Volodymyr Zelenskyy, which he might also attend. He gave no further details on who was organizing the meeting or when it might be. Putin made no mention of meeting Zelenskyy when speaking to reporters earlier. He said he expected Ukraine and its European allies to accept the results of the US-Russia negotiation constructively and not try to "disrupt the emerging progress." He also repeated Moscow's long-held position that what Russia claims to be the "root causes" of the conflict must be eliminated to reach a long-term peace, a sign he remains resistant to a ceasefire. There was no immediate reaction from Kyiv to the summit, the first meeting between Putin and a US president since the war began. 'GOTTA MAKE A DEAL' Trump signaled that he discussed potential land swaps and security guarantees for Ukraine with Putin, telling Hannity: "I think those are points that we negotiated, and those are points that we largely have agreed on." "I think we're pretty close to a deal," he said, adding: "Ukraine has to agree to it. Maybe they'll say no." When asked by Hannity what he would advise Zelenskiy, Trump said, "Gotta make a deal." "Look, Russia is a very big power, and they're not," Trump added. The war has killed or injured well over a million people from both sides, including thousands of mostly Ukrainian civilians, according to analysts. Zelenskyy has ruled out formally handing Moscow any territory and is also seeking a security guarantee backed by the United States. Trump said he would call Zelenskyy and NATO leaders to update them on the Alaska talks. Trump was due to arrive back in Washington early on Saturday morning. As the two leaders were talking, the war raged on, with most eastern Ukrainian regions under air raid alerts. Governors of Russia's Rostov and Bryansk regions reported that some of their territories were under Ukrainian drone attacks. Russia's air defense systems intercepted and destroyed 29 Ukrainian drones overnight over various Russian regions, including 10 downed over the Rostov region, RIA agency reported on Saturday, citing the Russian defense ministry. Ukraine's Air Force said frontline territories in the Sumy, Donetsk, Chernihiv and Dnipropetrovsk regions were targeted in overnight strikes by Russia. Ukrainian air defense units destroyed 61 of the 85 drones launched, it said. The anticlimactic end to the closely watched summit was in stark contrast to the pomp and circumstance with which it began. When Putin arrived at an Air Force base in Alaska, a red carpet awaited him, where Trump greeted the Russian president warmly as US military aircraft flew overhead. Putin is wanted by the International Criminal Court, accused of the war crime of deporting hundreds of children from Ukraine. Russia denies the allegations, and the Kremlin has dismissed the ICC warrant as null and void. Russia and the United States are not members of the court. 'NEXT TIME IN MOSCOW' Zelenskyy, who was not invited to Alaska, and his European allies had feared Trump might sell out Ukraine by essentially freezing the conflict and recognising - if only informally - Russian control over one-fifth of Ukraine. Trump had sought to assuage such concerns on Friday ahead of the talks, saying he would let Ukraine decide on any possible territorial concessions. Asked what would make the meeting a success, he told reporters: "I want to see a ceasefire rapidly...I'm not going to be happy if it's not today...I want the killing to stop." The meeting also included US Secretary of State Marco Rubio; Trump's special envoy to Russia, Steve Witkoff; Russian foreign policy aide Yury Ushakov; and Russian Foreign Minister Sergei Lavrov. Trump, who said during his presidential campaign that he would end the Ukraine war within 24 hours, conceded on Thursday it had proven a tougher task than he had expected. He had said if Friday's talks went well, quickly arranging a second, three-way summit with Zelenskyy would be more important than his encounter with Putin. Trump ended his remarks on Friday by telling Putin, "I'd like to thank you very much, and we'll speak to you very soon and probably see you again very soon." "Next time in Moscow," a smiling Putin responded in English. Trump said he might "get a little heat on that one" but that he could "possibly see it happening.". Zelenskyy said ahead of Friday's summit that the meeting should open the way for a "just peace" and three-way talks that included him, but added that Russia was continuing to wage war. "It's time to end the war, and the necessary steps must be taken by Russia. We are counting on America," Zelenskyy wrote on Telegram.
