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Alternative Market Briefing

10 institutions in the Middle East manage a combined AUM of $3.71tn

Wednesday, November 18, 2020

Laxman Pai, Opalesque Asia:

The Middle East is home to some of the world's largest investors, with the 10 largest institutions in the region managing a combined $3.71tn, according to Preqin Pro.

The domestic investor landscape is dominated by sovereign wealth funds, which comprise seven of the top 10 investors, and account for 57% of the assets under management (AUM) in alternatives.

"Economies in the Middle East are at a crossroads. COVID-19 and the decline in oil prices - WTI has fallen from more than $130 a barrel in the summer of 2014 to around $40 a barrel today - are increasing the need for structural economic reform. Private investors in the region are uniquely placed to play a key role in the forthcoming economic transformation," said Grant Murgatroyd is senior writer, EMEA at Preqin.

Sovereign wealth funds have a long track record in alternatives and will turn an increasing proportion of their capital into domestic markets. The largest, Abu Dhabi Investment Authority (ADIA) with a total AUM of $579.6bn, currently has 23% of its assets allocated to alternatives, with a stated target range of between 13% and 33%.

The UAE's second-largest sovereign wealth fund, Investment Corporation of Dubai (ICD) with an AUM of $305bn, has a remit targeted at enhancing Dubai's position as a competitive center in the global economy.

According to the report, Abu Dhabi-based Mubadala also pursues both global and domestic investments and has been increas......................

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