Three sovereign wealth funds from the GCC – Saudi Arabia’s Public Investment Fund (PIF), the Abu Dhabi Investment Authority (ADIA), and the Kuwait Investment Authority (KIA) – have surpassed $1tn in assets under management, according to the latest Global SWF rankings.

PIF leads the trio with $1.15tn in AUM, despite a recent 60% decline in net profit due to rising interest rates and delays across major infrastructure projects. The fund has increased its AUM by 18% year-on-year and holds 37% of its portfolio in alternative assets, including private equity, infrastructure, real estate, and hedge funds. With landmark investments in NEOM, Saudi Aramco, and SoftBank, PIF is targeting $2tn in AUM by 2030.

ADIA follows closely with $1.11tn in AUM, ranking fifth globally. The fund has allocated 32% of its portfolio to alternative assets and is known for being one of the world’s largest investors in private equity, infrastructure, and real estate. ADIA’s strategy now prioritises total portfolio returns rather than benchmark outperformance by asset class.

KIA ranks sixth globally with $1.002tn in AUM and a 23% allocation to alternatives, including holdings in BlackRock and Mercedes-Benz Group.

Norway’s Norges Bank tops the global sovereign wealth fund list with $1.76tn, followed by SAFE Investment Company ($1.41tn) and China Investment Corporation ($1.33tn).

The rise of GCC sovereign funds into the trillion-dollar bracket underscores the region’s growing influence in global private equity and alternatives investing.

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