| UAE-based sovereign wealth funds (SWFs) are seeing increasing opportunities in African countries and some of the leading emerging markets of the world demonstrating a shift in the focus of their asset allocations. “[The] UAE is home to one of the largest SWFs in the world and recently has played a significant role in establishing relations with African countries, resulting in commitments worth $19 billion (Dh69.7 billion) from UAE investors, across 17 infrastructure projects,” said Ashish Dave, KPMG Partner and head of private equity and SWFs.
This paves the way for future investments as economic linkages between the UAE and African countries continue to strengthen, in part driven by the investment strategies of local SWFs. Interestingly, SWFs in the Middle East are viewing the West with caution and as a result have invested less internationally than they have done in the past while redirecting a portion of their funds from international investments back into the Middle East...............................................Full Article: Source
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