Fading Sovereign Shine

Fading Sovereign Shine

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  • As Middle Eastern sovereign wealth funds emerge as the go-to investors for some of the biggest deals, the world’s oldest and one of its largest is being eclipsed by its more ambitious, flashier neighbors.
  • The Kuwait Investment Authority, which manages the Gulf country’s $700 billion sovereign wealth fund, has lost several senior managers, including heads of key divisions over the past year, according to people with knowledge of the matter.

Why it matters

Numerous dealmakers around the world are aiming to collaborate with the region's sovereigns, who collectively control no less than $3 trillion in assets, creating a powerhouse in the world of finance, while others backtrack. In recent months, funds such as Saudi Arabia's Public Investment Fund - with assets of $700 billion - and Mubadala Investment Company - with assets of $276 billion - have closed deals in various sectors, from aviation to tourism, sports, and even video games. However, neither the Global Sovereign Wealth Fund Corporation nor IE University has any data on deals concluded by the Kuwait Investment Authority from the beginning of the year until now.


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