GCC embraces private capital

Assets under management (AuM) in the GCC’s private capital sector more than doubled between 2021 and 2022, according to the latest data from research firm Preqin.   As of December 2021, AuM had reached US$5.8 billion which increased to $12.3 billion by December 2022. The market is dominated by Saudi Arabia which holds $10 billion in AuM with the UAE holding $2.1 billion. According to Preqin, one reason for the growth in AuM is the involvement of large international private equity firms such as Blackstone, CVC Capital Partners, Silver Lake and Apollo that see the GCC as an attractive destination for capital deployment. This can be seen by the increase in the number of active general partners (GPs) in GCC countries, which increased from 268 in 2018 to 529 in 2023. The report also highlights the influential role of sovereign wealth funds within the region. Average allocations to alternative assets from these SWFs doubled between December 2021 and December 2022 – from 22% to 44%. “As GCC leaders focus on domestic employment opportunities for their young population, the region’s SWFs are becoming more focused on domestic investments,” stated report author David Dawkins. “Even a small uptick of the domestic fund alternatives allocations would have a transformative impact on the GCC’s private capital GPs.”  ©2023 funds global mena


Change brings progress and long-term opportunities in Saudi Arabia

Saudi_ArabiaNaomi Waistell, an emerging markets fund manager at Polar Capital, analyses change in Saudi Arabia – a hydrocarbon country with green ambitions and which is set on a major economic...

New income streams

Romil_PatelAlthough it is awash with oil and, therefore, capital, the Gulf region is at a critical juncture: it must diversify its...

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

EXECUTIVE INTERVIEW: A natural interest in the topic

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.


Middle East Investor Roundtable 2020: Dimensions of diversification

Investors in the Middle East consider the tools that will be needed to navigate the Covid-19 crisis, the continued appetite for dividend and why it’s all about tech. Chaired by Romil Patel.

South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.

ROUNDTABLE: Hooked to the global caravan

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.