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Gulf sovereign wealth funds collectively stepped up dealmaking over the last three months, defying expectations that the Iran war would subdue their investment appetite.\u00a0\u00a0<\/p>\n
The five biggest spenders\u2013split across Saudi Arabia, the UAE and Qatar\u2013collectively spent\u00a0almost\u00a0$26bn\u00a0during March,\u00a0April\u00a0and May, with most of the capital flowing into developed market assets.\u00a0\u00a0<\/p>\n
They\u00a0comprised\u00a0Saudi Arabia\u2019s Public Investment Fund (PIF), the UAE\u2019s Mubadala, Abu Dhabi Investment Authority (ADIA) and\u00a0L\u2019imad, as well as the Qatar Investment Authority (QIA).\u00a0\u00a0\u00a0<\/p>\n
\u201cThese vehicles\u2026have shown no sign of slowdown (yet), with a stronger average pace in the past quarter, than in the five years before the start of the war,\u201d industry specialist Global SWF said in its latest report published on 1 June.\u00a0<\/p>\n
Read more: Property prices are down in Dubai.\u00a0Is it a\u00a0war-induced\u00a0blip, or something more serious?\u00a0<\/p>\n
The QIA was the only fund that dropped its pace, investing about\u00a0$2bn\u00a0less per quarter since March 1.\u00a0\u00a0<\/p>\n
The report noted that while capital has continued flowing into U.S. companies and funds, both ADIA and PIF showed a preference for investing in China and emerging markets.\u00a0\u00a0<\/p>\n
Since the start of the Iran war, PIF has invested $6.1bn in emerging markets, more than double the $2.43bn it has deployed in developed market assets. Adia has put $3.32bn into emerging markets and $1.58bn\u00a0into developed market investment opportunities.\u00a0\u00a0<\/p>\n
However, the PIF\u2019s focus is set to shift towards its domestic economy, with about 80%\u00a0of its\u00a0portfolio\u00a0now focused internally.<\/p>\n
In mid-April, the near $1trn\u00a0fund launched a new five-year investment strategy that will narrow its focus to six areas: tourism and entertainment; urban development; advanced manufacturing; industrials and logistics; clean energy and renewables infrastructure;\u00a0and Neom\u2013a multi-billion-dollar smart city and economic zone being built in the Tabuk province of northwestern Saudi Arabia.\u00a0\u00a0<\/p>\n
Meanwhile, in January this year, Abu Dhabi\u2019s government\u00a0brought together\u00a0the Abu Dhabi Development Holding Group (ADQ)\u00a0and\u00a0L\u2019imad\u00a0to centralize the emirate\u2019s strategic operating companies and create a $300bn \u201csovereign investment powerhouse.\u201d\u00a0\u00a0<\/p>\n
L\u2019imad\u2019s\u00a0investment mandate focuses on a wide array of sectors, including infrastructure, property, financial services, asset management, advanced industries, technology, urban mobility, and smart cities.\u00a0\u00a0<\/p>\n
In addition to managing domestic \u201cnational champions\u201d (such as Abu Dhabi Ports, Etihad Rail, and various real estate assets),\u00a0L\u2019imad\u2019s\u00a0goal is to actively participate in major international deals and consortiums that build globally competitive industrial ecosystems that ensure that both supply lines and energy sources are controlled from origin to destination.\u00a0<\/p>\n
In May,\u00a0L\u2019imad\u00a0unveiled a $30bn venture targeting energy, transportation and\u00a0logistics\u00a0opportunities across the Middle East and Central Asia as part of a consortium that includes BlackRock\u2019s Global Infrastructure Partners and Singapore\u2019s Temasek Holdings.\u00a0\u00a0<\/p>\n
L\u2019imad\u00a0is also looking to partner with PIF and QIA to commit\u00a0roughly $24bn in equity to Paramount Skydance\u2019s planned $110\u00a0billion takeover of Warner Bros.\u00a0Discovery.\u00a0<\/p>\n
The deal, approved by shareholders in April, is due to be completed between July and September this year, subject to regulatory approval.\u00a0<\/p>\n
The six GCC states combined boast some of the biggest sovereign wealth funds in the world \u2013 collectively managing $5.7trn in aggregate assets.\u00a0Despite a year of conflict and volatility, the appetite for investment shows little sign of waning.\u00a0\u00a0<\/p>\n
#U.S #Europe #feared #Iran #conflict #curtail #Gulfs #appetite #global #investments #true<\/p>\n","protected":false},"excerpt":{"rendered":"
Gulf sovereign wealth funds collectively stepped up dealmaking over the last three months, defying expectations…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[245],"tags":[10235,421,13663,1381,13662,423,13664,22,50,376,145,722,684,81],"_links":{"self":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/7733"}],"collection":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7733"}],"version-history":[{"count":0,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/7733\/revisions"}],"wp:attachment":[{"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}