Abu Dhabi’s wealth funds have been among the biggest sovereign investors this year. Bloomberg
Abu Dhabi’s wealth funds have been among the biggest sovereign investors this year. Bloomberg
Abu Dhabi’s wealth funds have been among the biggest sovereign investors this year. Bloomberg
Abu Dhabi’s wealth funds have been among the biggest sovereign investors this year. Bloomberg

Abu Dhabi ranked world's top city for sovereign wealth fund capital


Alkesh Sharma
  • English
  • Arabic

Abu Dhabi has been ranked as the world's top city for sovereign wealth fund (SWF) capital, managing $1.67 trillion in assets, according to a new report by industry specialist Global SWF.

The UAE capital is home to major funds including the Abu Dhabi Investment Authority, Mubadala Investment Company and investment and holding company ADQ. The report also included the assets of the Abu Dhabi Fund for Development, Tawazun (including Edge) and federal fund the Emirates Investment Authority, it said.

Norway's capital Oslo, which hosts the Government Pension Fund managing $1.66 trillion, ranked second. Other top cities in the ranking include Beijing ($1.3 trillion, headquarters of the China Investment Corporation), Singapore ($1.13 trillion, GIC Private and Temasek Holdings), Riyadh ($1.11 trillion, home to Public Investment Fund), and Hong Kong ($1.1 trillion, home to China’s SAFE Investment Corporation).

In total, SWFs managed $12.5 trillion in assets as of October 1, with the top six cities accounting for almost two-thirds of these resources.

State-controlled funds from Saudi Arabia, the UAE and Qatar led global sovereign investments in the first six months of this year, with a broad focus on sustainable assets in a push to expand their portfolios, Global SWF said in July.

Investments by the PIF, Mubadala, Adia, ADQ and Qatar’s state investment arm, the Qatar Investment Authority, accounted for more than half of the total sovereign investments during the first half of this year, with their aggregate investment during the period reaching $38.2 billion through 58 deals.

Meanwhile, in the first three quarters of 2024, Adia, Mubadala, and ADQ invested $36 billion in deals globally, accounting for two-thirds of what all Gulf SWFs invested, and 26 per cent of SWF investments, the latest Global SWF report found.

Mubadala has pivoted to new investment areas and has expanded its healthcare portfolio at a brisk pace. Victor Besa / The National
Mubadala has pivoted to new investment areas and has expanded its healthcare portfolio at a brisk pace. Victor Besa / The National

Adia, which invests on behalf of the Abu Dhabi government, makes direct and indirect investments across asset classes such as equities, fixed income, infrastructure, private equity and property, and is among the largest SWFs in the world. Its assets are estimated at $993 billion, credit rating agency DBRS Morningstar said last year, quoting data from Global SWF.

With assets of more than Dh1.11 trillion ($302.2 billion), Mubadala is at the heart of Abu Dhabi's efforts to diversify its revenue base. Its interests span six continents and include the aerospace, semiconductors, metals and mining, renewable energy, oil and gas, and petrochemicals sectors. It has also expanded to life sciences and pharmaceutical investments.

ADQ, established in 2018, had total assets worth $225 billion as of June 30. It has shareholdings in more than 25 portfolio companies across seven economic clusters which cover vital sectors of the Abu Dhabi economy.

“While other SWFs in the region combine all mandates under the same umbrella, the Abu Dhabi approach is characterised by several SWFs with different strategies, different mandates,” the report found.

The emirate’s public capital, including assets managed by central banks, pension funds, and family offices, is projected to grow from $2.3 trillion today to an estimated $3.4 trillion by 2030, the SWF Global report revealed.

Besides vast assets, Abu Dhabi's SWFs also employ more than 3,100 professionals, highlighting a role as a hub for both capital and talent, the report said. It is followed by Singapore, Riyadh, Kuala Lumpur and Dubai, each of them with SWFs that have more than 1,000 employees.

Region-wise, Middle East and North Africa SWFs are top globally with nearly $5.3 trillion in capital, followed by Asia ($4.2 trillion), Europe ($2 trillion), Oceania ($450 billion) and North America ($350 billion).

SWF-managed capital is “shifting and expanding in certain cities in the world”, said Diego Lopez, founder and managing director of Global SWF.

“The world ranking confirms the concentration of sovereign wealth funds in a select number of cities, underscoring the significance of these financial hubs on the global stage.”

The Bio

Name: Lynn Davison

Profession: History teacher at Al Yasmina Academy, Abu Dhabi

Children: She has one son, Casey, 28

Hometown: Pontefract, West Yorkshire in the UK

Favourite book: The Alchemist by Paulo Coelho

Favourite Author: CJ Sansom

Favourite holiday destination: Bali

Favourite food: A Sunday roast

Who has been sanctioned?

Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.

Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.

Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.

Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.

Company profile

Name: Tharb

Started: December 2016

Founder: Eisa Alsubousi

Based: Abu Dhabi

Sector: Luxury leather goods

Initial investment: Dh150,000 from personal savings

 

Top 10 most polluted cities
  1. Bhiwadi, India
  2. Ghaziabad, India
  3. Hotan, China
  4. Delhi, India
  5. Jaunpur, India
  6. Faisalabad, Pakistan
  7. Noida, India
  8. Bahawalpur, Pakistan
  9. Peshawar, Pakistan
  10. Bagpat, India
UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

How much sugar is in chocolate Easter eggs?
  • The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
  • The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
  • The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
  • The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
  • The Cadbury Creme Egg contains 26g of sugar per 40g egg
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Mozn%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammed%20Alhussein%2C%20Khaled%20Al%20Ghoneim%2C%20Abdullah%20Alsaeed%20and%20Malik%20Alyousef%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Riyadh%2C%20Saudi%20Arabia%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20FinTech%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Raed%20Ventures%2C%20Shorooq%20Partners%2C%20VentureSouq%2C%20Sukna%20Ventures%20and%20others%3C%2Fp%3E%0A
The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

Cricket World Cup League 2 Fixtures

Saturday March 5, UAE v Oman, ICC Academy (all matches start at 9.30am)

Sunday March 6, Oman v Namibia, ICC Academy

Tuesday March 8, UAE v Namibia, ICC Academy

Wednesday March 9, UAE v Oman, ICC Academy

Friday March 11, Oman v Namibia, Sharjah Cricket Stadium

Saturday March 12, UAE v Namibia, Sharjah Cricket Stadium

UAE squad

Ahmed Raza (captain), Chirag Suri, Muhammad Waseem, CP Rizwan, Vriitya Aravind, Asif Khan, Basil Hameed, Rohan Mustafa, Kashif Daud, Zahoor Khan, Junaid Siddique, Karthik Meiyappan, Akif Raja, Rahul Bhatia

Profile Box

Company/date started: 2015

Founder/CEO: Mohammed Toraif

Based: Manama, Bahrain

Sector: Sales, Technology, Conservation

Size: (employees/revenue) 4/ 5,000 downloads

Stage: 1 ($100,000)

Investors: Two first-round investors including, 500 Startups, Fawaz Al Gosaibi Holding (Saudi Arabia)

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

if you go
Updated: October 08, 2024, 2:21 PM`