- The combined wealth under management by the UAE-based sovereign wealth funds, the Central Bank, and public pension funds has been estimated to have exceeded $2 trillion.
- As per the latest updated ranking by Global SWF, the UAE ranks fourth globally in terms of the combined size of the assets under management (AuM) of $2.5 trillion, after the U.S. at $11.338 trillion, China at $6.828 trillion, and Japan at $3.128 trillion.
- Abu Dhabi-listed Alpha Dhabi Holding has acquired a 51% stake in oil field services conglomerate NTS Amega Global, which the group said will enhance its energy portfolio, focusing on the oil field services sector.
- Alpha Dhabi said in a filing to Abu Dhabi Securities Exchange (ADX) that Jebel Ali-based NTS Group, which acquired Houston-based Amega West Services in 2020, offers manufacture, repair and rental solutions in the oil and gas sector.
- Saudi Arabia’s?Public Investment Fund?is open to entering into more joint ventures with?foreign companies?looking to invest in the kingdom, an executive from the wealth fund has said.
- This week, the PIF and South Korea’s Hyundai agreed to jointly build a?car manufacturing plant?in Saudi Arabia, with an estimated investment of more than $500 million.
- “One of the main advantages of these kinds of joint venture partnerships is to localise the technical know-how, and this is one of the main things that we need to do,” said Abdulmajeed Alhagbani, head of Mena securities investments at the PIF.
- Canary Wharf Group, the developer of London’s dockland financial district, has received a fresh equity injection from its shareholders, as the area contends with high-profile departures and a shift to working from home.
- Brookfield and the?Qatar Investment Authority?have committed to a ￡300 million ($364 million) equity injection for the firm as well as a ￡100 million revolving credit facility, according to a press release from the firm on Wednesday.
