[ I N D E P T H | M I D D L E E A S T ] in 2023, according to figures from Boston Consulting Group( BCG). But this growth isn’ t just a short-term trend – it’ s part of a decades-long financial transformation. This rapid expansion has cemented the Middle East as a major player in global finance, with sovereign wealth funds( SWFs) leading the charge. According to a recent Deloitte report,
Gulf SWFs are on track to reach $ 18 trillion in assets under management( AUM) by 2030. As of September 2023, the combined AUM of GCC SWFs stood at $ 3.6 trillion, which accounts for about 33 % of global SWF assets. And they’ re not just safeguarding capital anymore; they’ re diversifying, pushing into sustainable investments, private markets, and even delving into sectors like AI and green tech. Notable entities in the region include the Abu Dhabi Investment Authority( ADIA), the Saudi Public Investment Fund( PIF), the Kuwait Investment Authority( KIA), and the Qatar Investment Authority( QIA). These funds have steadily increased their
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