Mubadala tops Gulf sovereign fund activity through September

Mubadala Investment Company of Abu Dhabi led the Gulf's sovereign wealth funds in investment activity during the first nine months of 2026, deploying a total of $26.2 billion, according to data from Global SWF. Coming in second was Saudi Arabia's Public Investment Fund with $14 billion in investments, followed by Abu Dhabi Investment Authority with $12.2 billion, Abu Dhabi's L'Imad with $10.8 billion, and Qatar Investment Authority with $10.3 billion.

Global SWF reported that the Middle East and North Africa region saw sovereign investors deploy a total of $102 billion across 245 transactions during the nine-month period, accounting for 39 percent of global dealmaking by state-owned investors. However, the region's investment share and absolute investment were below levels seen in 2023-25.

Mubadala's $26.2 billion of investment included capital deployed by Abu Dhabi Investment Council, Mubadala Capital, and MGX. The company's investment platforms participated in significant financing rounds involving artificial intelligence companies OpenAI and Anthropic and data platform Databricks, indicating technology's importance in Gulf sovereign investment activity this year.

The nine-month figure represents a substantial increase from Mubadala's $15.2 billion deployment by the end of June. Collectively, Gulf sovereign wealth funds committed $53.9 billion across 108 transactions during the first half of 2026, with Mubadala leading the group at that time. Investment flows remained heavily concentrated in major international markets, with the United States receiving 45 percent of the value invested by MENA sovereign funds, followed by China at 10 percent, the United Kingdom at 7 percent, and Singapore at 3 percent.