Over the past 10 to 20 years, a number of companies have dominated the investment and finance sectors in the Middle East. Some of these companies are relatively new, and some of them are older. In this article, we are going to list the 10 largest and most successful investment companies in the Middle East.
After reading this list, you should have a clear idea of who the major players in the financial services industry are in the Middle East.
1. Dubai Investment Fund – $320 billion AUM
The Dubai Investment Fund is the largest investment company in the Middle East. This company was established in 2001 in the United Arab Emirates and currently has over $320 billion in assets under management. The Dubai Investment Fund, or DIF, serves a wide range of commercial and institutional clients worldwide. Clients of the Dubai Investment Fund include endowments, sovereign wealth funds, pension funds, family offices, fund sponsors, foundations, insurance companies, etc. The Dubai Investment Fund is not only the
largest investment fund in the Middle East, it is also one of the largest in the whole world. The company invests in many different sectors, including real estate, healthcare, TMT, infrastructure, blockchain/cryptocurrency, green energy, and more. The Dubai Investment Fund’s strategy is guided by risk management, sustainable returns and long-term growth.
2. SNB Capital – $50.4 billion in assets under management
SNB Capital is one of the largest and most impressive investment firms in the Middle East. It is the investment banking and asset management division of the National Commercial Bank of Saudi Arabia. In fact, this bank owns more than 90% of SNB Capital. SNB capital is Saudi Arabia’s leading asset manager. The company provides a wide variety of investment services and financial security solutions, including asset management, fiduciary investment advisory services, wealth, fund and portfolio management, investment banking and brokerage. Currently, SNB Capital manages over $50.4 billion in assets. The CEO of the company is Rashed Sharif.
3. InvestCorp – $35 billion in assets under management
InvestCorp is an investment management company located in Bahrain. This company was founded in 1982. Currently, the company has more than $35 billion in assets under management. InvestCorp started as a simple private equity firm. However, it now manages real estate, absolute return investments, credit management, infrastructure and strategic capital in addition to private equity. Unlike many other companies on this list, InvestCorp has two CEOs. InvestCorp’s co-CEOs are Hazem Ben-Gacem and Rishi Kapoor. The company was originally founded by Nemir Kirdar. Since 2008, InvestCorp has reviewed approximately 2,000 investments. The company has deployed billions of dollars of capital in the top 16 of these investments. InvestCorp was named “Company of the Year: Middle East and Africa” in Private Equity International’s 2018 Awards Series.
4. Alinma Investment – $18 billion AUM
Alinma Investment is a large joint-stock company based in Saudi Arabia. This company is fully owned by Alinma Bank. Alinma Investments offers a wide range of Shariah-compliant investment options. Some of the services offered by the company include asset management, ETFs, custody, capital raising, advisory services and management of endowment investment funds. Alinma Investment currently has approximately $18 billion in assets under management. The company’s CEO is Mazin Fawaz Baghdadi, a former chief investment officer at HSBC. Baghdadi has over 20 years of comprehensive investment management experience. The company’s chief financial officer is Saud Balghonaim. Saud has over 15 years of financial accounting experience.
5. Riyadh Capital – $18 billion in assets under management
Riyad Capital is an investment company founded in 2008 in Saudi Arabia. This company has over $18 billion in assets under management and serves as the investment arm of Riyadh Bank. The CEO of the company is Sabty Sulaiman Al Sabty. The company also recently entered into an agreement with BNP Paribas Securities Services in April 2021. The company hopes this agreement will help it grow and grow. Riyad Capital offers a variety of services, including wealth management, asset management, trading services, corporate investment banking, custody and securities services, margin lending, and more. Riyad Capital also offers the “Riyad REIT”, which is a way for investors to gain exposure to local real estate investments.
6. Wafa Gestion – $14.4 billion in assets under management
Wafa Gestion is the leading asset management company in Morocco. The company was established in 1995. Currently, Wafa Gestion has over $14.4 billion in assets under management. Wafa Gestion launched the first mutual funds on the Moroccan market. The company has 50 employees and has two reference shareholders, Amundi and Attijariwafa Bank. Wafa Gestion offers a wide range of services and offers such as monetary UCITS, shares, bonds, commodities and investment solutions for companies. The current CEO of Wafa Gestion is Red Hilali. Wafa Gestion is considered the most important investment management company in Morocco.
7. SHUAA Capital – $14 billion in assets under management
SHUAA Capital is an asset management and investment banking platform located in the UAE. . SHUAA merged with Abu Dhabi Financial Group in 2019. SHUAA currently has over $14 billion in assets under management. This company was founded in 1979. However, when it was founded, it had a different name. The original name of SHUAA Capital was Arabian General Investment Corporation. The company changed its name in 2001 to SHUAA Capital. SHUAA is an acronym which in Arabic stands for Arabian General Investment Company. Although SHUAA is headquartered in the United Arab Emirates, it also has offices in Saudi Arabia. SHUAA offers two main services to its clients, asset management and investment banking. The CEO of SHUAA Capital is currently Jassim Alseddiqi.
8. Al Rajhi Capital – $13.3 billion in assets under management
Al Rajhi Capital is a large investment company that serves as the investment banking arm of Al Rajhi Bank. Al Rajhi Bank is a large financial services company in Saudi Arabia. The company offers a wide range of financial services to its clients, including brokerage, asset management and investment banking. Currently, Al Rajhi Capital has over $13.3 billion in assets under management. Al Rajhi Capital was the underwriter for Saudi Aramco’s record IPO. 3 billion shares were released in this IPO in 2019. Al Rajhi Capital has a number of different investment centers located in Saudi Arabia. These investment centers allow clients to have a “walk-in” service. The CEO of Al Rajhi Capital is Waleed AlRashed Alhumaid. Al Rajhi Capital uses state-of-the-art tools and technologies to provide quantitative and qualitative investment analysis. These analyzes are designed to ensure that every investment the company makes is as strategic as possible. Investment performance is monitored regularly and Al Rajhi Capital adjusts investments as needed based on performance.
9. Kamco Investment
Kamco Investment is an investment management company located in Kuwait. The company was founded in 1998. Kamco offers a wide variety of financial services divided into three main categories: asset management, investment banking and brokerage. Kamco Investment was listed on the Kuwait Stock Exchange in 2003. The company is an independently managed subdivision of KIPCO Group. Kamco Investment currently has over $13 billion in assets under management. Faisal Mansour Sarkhou is the current CEO of Kamco Investment. Kamco offers a variety of asset management solutions that cover private equity, fixed income, real estate, equities, third-party solutions, and more. The company favors an ethical, impactful and proactive approach in order to build quality and lasting relationships with its customers. The company’s chief financial officer is Hanaa Hasan Taha.
10. GFH Financial Group
GFH Financial Group is a leading financial group in Bahrain. The company was founded in 1999 and is based in the heart of Bahrain’s financial center. GFH currently has over $12 billion in assets under management. GFH Financial Group is listed on four stock exchanges in the GCC region, including Bahrain Stock Exchange, Kuwait Stock Exchange, Dubai Financial Market and Abu Dhabi Stock Exchange. GFH Financial Group is one of the most actively traded and liquid stocks on the Abu Dhabi Stock Exchange. GFH offers a variety of financial services including property development, commercial banking, investment management, and more. The company is known for its deep market knowledge and innovative thinking. The current CEO of GFH Financial Investment Group is Hisham Alrayes.
All of the companies on this list have billions of dollars in assets under management and they have all risen to the top of the industry. So if you are looking for asset management or any other financial service in the Middle East, these companies are a great place to start.
However, while all of these companies offer financial services, the services can differ significantly from company to company. For example, some of these companies offer traditional banking services and some do not. So be sure to do your due diligence to make sure the company you’re considering has the particular financial service you’re looking for. If you need to manage a large amount of assets, one of these companies might be a good choice.
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