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November 30, 2022
The Gulf Briefing: Swapping Petrodollars for Assets
Journalist Al-Monitor Staff
Gulf sovereign wealth funds strategy evolved, though. It has shifted from a preference for “portfolio funds” that buy numerous small stakes in a lot of companies to “investing in a more strategic and concentrated way,” said Rachel Ziemba, a macro strategist. Gulf sovereign wealth funds are now hungry for global deals closely aligned with top domestic priorities.
For example, the United Arab Emirates’ ambitions to become a top destination globally for the data center industry. The Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund, partnered on Thursday with a Singaporean private equity real estate firm to set up a $2 billion strategy targeting data center investments across the Asia Pacific region.
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