Source: Fortune
Summary
Gulf sovereign wealth funds, including Saudi Arabia’s Public Investment Fund (PIF), the UAE’s Mubadala, Abu Dhabi Investment Authority (ADIA), and Qatar Investment Authority (QIA), have increased their dealmaking in the past quarter, defying expectations that the Iran war would slow their investment appetite. The funds collectively spent almost $26 billion in March, April, and May, with most of the capital flowing into developed market assets. PIF has invested $6.1 billion in emerging markets, while ADIA has put $3.32 billion into emerging markets.
Our Reading
The numbers tell one story.
Gulf sovereign wealth funds are doubling down on investments, despite the Iran war. PIF is shifting its focus to its domestic economy, with 80% of its portfolio now focused internally. ADIA and PIF are investing in emerging markets, while L’imad is looking to partner with PIF and QIA on a $110 billion takeover of Warner Bros. Discovery.
The Gulf states’ appetite for investment shows little sign of waning, despite a year of conflict and volatility.
Investing in uncertainty is business as usual.
