Who manages $2.7 trillion of Gulf sovereign money?

The Middle East is home to some of the world's largest sovereign wealth funds, with total assets approaching $3 trillion, and as a result they have become giant investors and a major player in the global deal-making scene.

These entities, including the Abu Dhabi Investment Authority and the Saudi Public Investment Fund, have pumped billions of dollars into various fields such as technology, finance and sports, in countries extending from Australia to Canada, and this was thanks to the large gains they reaped after the major commodities boom last year.

This has attracted luminous names in the global finance scene, starting with Ray Dalio and Rajeev Misra, who work closely with the powerful heads of these funds.

Sheikh Tahnoun bin Zayed Al Nahyan

Sheikh Tahnoun bin Zayed Al Nahyan, a scion of the ruling family in Abu Dhabi - born in the late 1960s - leads an empire estimated at about $1.5 trillion and includes two wealth funds, along with the most important private investment company in the region, the largest bank, and the largest listed company in the Emirates. He is also one of the two representatives of the Emirate of Abu Dhabi, the national security advisor to the state and the brother of its president, which gives him greater influence than most of his counterparts in the region.

According to Global SWF data, the Abu Dhabi Investment Authority - headed by Sheikh Tahnoun since last March - ranked second among the largest spending major wealth funds in the Middle East as of the beginning of 2022. As Chairman of the Holding Company (ADQ), Ashraf Al-Sheikh Tahnoun also agreed to acquire billions of dollars in assets in Egypt, and pledged investments that support the Turkish economy. He also played a pivotal role in concluding deals aimed at enhancing food security, including an agreement to purchase a stake in Louis Dreyfus.

Sheikh Mansour bin Zayed Al Nahyan

Sheikh Mansour (brother of Sheikh Tahnoun and Sheikh Mohammed bin Zayed, President of the Emirates) gained international fame as the owner of the English football club Manchester City. He is one of the most influential businessmen in Abu Dhabi.

The Sheikh holds the position of Vice President of the Emirates and Deputy Prime Minister. He also became Chairman of the Board of Directors of the Mubadala Investment Fund, which is worth $276 billion, last March. Meanwhile, Khaldoon Al-Mubarak, a prominent state official, has held the position of CEO of the Fund for nearly two decades. Together, the two supervise several investments, including First Abu Dhabi Bank (the largest bank in the emirate). Other holdings are in Carlyle and GlobalFoundries, America's largest supplier of custom-designed semiconductors.

The fund also supports the new entity supervised by Rajiv Misra, which has a value of $6.8 billion, and also seized opportunities to invest in technology companies when their valuations declined last year. Mubadala Investment has long contributed strongly to efforts to diversify Abu Dhabi's economy away from oil, including its investments in the healthcare sector and even finance.

Sheikh Mansour, now in his sixties, also heads the $90 billion Emirates Investment Authority. The device acquires a 60% stake in the $60 billion Emirates Telecommunications (&e) Group - the largest shareholder in the Vodafone Group - which is pursuing an ambitious global expansion strategy.

Yasser Al-Rumayyan

He is the governor of Saudi Arabia's powerful Public Investment Fund, and one of the main people charged with implementing the Vision 2030 strategy launched by Crown Prince Mohammed bin Salman with the aim of reforming the kingdom's economy.

The Fund is leading diversification efforts in the Kingdom, starting with the futuristic “NEOM” city, which is worth $500 billion, and passing through exciting deals that turn the world of sports upside down, and even investments in mining, electronic games, and technology.

The Fund's spending ($760 billion) has exceeded all its peers in the region since the beginning of 2022, supported by the rise in oil prices last year.

Al-Rumayyan is in his fifties and loves golf. He played a key role in concluding the surprising partnership agreement between the PGA and the LEAF Golf League this year.

The Public Investment Fund also owns a stake in the giant state oil company, Aramco, whose board of directors is chaired by Al-Rumayyan. Among other investments outside the Kingdom, the fund is a major supporter of the Lucid Group, and also has two shares in Electronic Arts and Nintendo.

Mansour Al Mahmoud

Mansour Ibrahim Al Mahmoud is CEO of the Qatar Investment Authority, which is worth $450 billion and is considered one of the largest sovereign investors in Europe. The agency owns stakes in companies ranging from commodity mining giant Glencore to the J Sainsbury supermarket chain, in addition to the car manufacturer Volkswagen, which Al Mahmoud, who was born in the 1970s, works for. Membership of its Board of Directors.

The rise in prices of liquefied natural gas, of which Doha is one of the largest exporters, has revived Qatar's coffers. Earlier this year, Al Mahmoud - who assumed the position of CEO in 2018 - indicated the Fund’s intention to increase spending in Asia and the United States, where it plans to invest in the areas of combating climate change, infrastructure, and digitalization.

The fund is also looking to gain a greater foothold in economic growth efforts within Qatar itself, after years of the country's huge spending on hosting the FIFA World Cup.

Sheikh Bandar bin Mohammed bin Saud Al Thani, Governor of the Qatar Central Bank, assumed the position of Chairman of the Qatar Investment Authority this year. This step is unlikely to lead to adjustments to the fund's strategy or its investment appetite.