Welcome to the inaugural edition of the Mideast Money newsletter, I’m Adveith Nair. Join us each week as my team and I chronicle the intersection of money and power in a region that’s become one of the most influential in global finance. You can sign up here.
Middle Eastern wealth funds, which together control over $4 trillion in assets, have emerged as bankers to the world. The latest example as Bloomberg News reported last week was Bobby Jain’s new multistrategy hedge fund, which has secured backing from Abu Dhabi’s ADIA, marking the biggest fundraising haul since ExodusPoint’s record debut.
Gulf funds have deployed money around the world to diversify away from oil and in the process, upended the world of business, finance and even sport. Bets on the technology sector have also been a key part of this push, with both the United Arab Emirates and Saudi Arabia joining the fray.
