Saudi Arabia and its Gulf neighbors are projected to control $18 trillion in assets by 2030—a 50% jump from current levels—solidifying their status as global financial heavyweights, according to a Deloitte Middle East analysis. The region already holds around 40% of global sovereign wealth fund (SWF) assets and is home to six of the world’s ten largest SWFs.

The report, backed by data from the Sovereign Wealth Fund Institute, underscores the financial muscle of powerhouses like Saudi Arabia’s Public Investment Fund (PIF), ranked sixth globally, and the Abu Dhabi Investment Authority (ADIA), which leads the Gulf with $1.05 trillion in assets.

“The Gulf region continues to be the epicenter of sovereign wealth fund activity,” said Julie Kassab, Deloitte Middle East’s SWF leader, noting that Gulf funds are expanding their global presence and setting new standards for the industry in terms of performance and governance.

Gulf sovereign wealth funds have sustained an aggressive investment pace, deploying $82 billion in 2023 and another $55 billion in the first nine months of 2024, according to the report. Deloitte highlights five dominant players driving the region’s strategy: Saudi Arabia’s Public Investment Fund (PIF), the Abu Dhabi Investment Authority (ADIA), Mubadala, Abu Dhabi Developmental Holding Company (ADQ), and the Qatar Investment Authority (QIA).

The analysis points to a geographic pivot as Gulf funds increasingly channel investments into high-growth markets beyond the West—particularly Asia. China and India have emerged as focal points, with new regional offices and substantial capital flows. Gulf funds poured $9.5 billion into China in the first nine months of 2024 alone, with ADIA and the Kuwait Investment Authority becoming major shareholders in Chinese A-share listed companies.

Beyond Asia, Gulf sovereign wealth funds are turning their attention to Africa, with a particular interest in the mining sector—a signal of their growing appetite for high-risk, high-reward extractive investments. Adding to the region’s financial heft is the rise of “Royal Private Offices,” which now oversee an estimated $500 billion in assets.

As competition intensifies, Gulf funds face increasing pressure to sharpen performance, strengthen risk oversight, and elevate investment management standards. This has sparked a talent war, with sovereign funds offering generous compensation to attract top-tier professionals—particularly from global heavyweights like Singapore’s Temasek and Canada’s Maple Eight.

Today, Gulf SWFs employ approximately 9,000 professionals. Meanwhile, regional governments are launching domestically focused funds to co-invest with international partners. Deloitte noted that while geopolitical risks and commodity price fluctuations may present challenges, they are expected to drive greater efficiency and innovation in fund management.