Middle Eastern sovereign wealth funds (SWFs) grew their assets under management to $6.1 trillion by September 2026 and are projected to reach $8.8 trillion by 2030, according to the 2026 MENA Playbook released by Global SWF.
The 64-page report, which examines the state of Middle Eastern sovereign investors at the end of the third quarter, said MENA sovereign investors deployed $102 billion in the first nine months of 2026, accounting for 39% of global dealmaking.
Mubadala led regional sovereign investors with $26.2 billion in investments, followed by the Public Investment Fund (PIF), Abu Dhabi Investment Authority (ADIA), L’IMAD and Qatar Investment Authority (QIA).
The report said the Iran war could lead to withdrawals and a greater domestic focus among sovereign wealth funds, depending on the individual investor. At the same time, global funds including Singapore’s Temasek are increasing their commitment to investment and maintaining a presence on the ground.
Gulf sovereign investors now employ more than 12,000 staff, with an average nationalisation rate of 56%, according to the report. PIF has become the world’s largest sovereign wealth fund by personnel, with 3,321 employees, 86% of whom are Saudis.
GCC Stock Market Activity Weakens
Stock exchange activity has declined sharply, with only eight initial public offerings recorded so far in 2026.
The market capitalisation of GCC exchanges remained broadly flat at $4 trillion, with states or sovereign-owned investors holding 65% of the total, the report said.
The Abu Dhabi Global Market (ADGM) has also played a key role in Abu Dhabi’s development as a global financial centre. As of September 30, 2026, 620 financial firms had secured licences to operate from the financial free zone.
Family Offices Continue to Expand
Royal family offices continue to expand and complement sovereign wealth funds both domestically and internationally, according to Global SWF.
The report examines the intersection between the two groups through an analysis of the family trees of GCC ruling families.
The 2026 MENA Playbook also provides a ranking of 170 MENA sovereign investors and details 400 offerings conducted between January 2017 and September 2026 across regional stock exchanges.
