New figures from investment research firm Global SWF show that Mubadala Investment Company deployed $26.2 billion between January and September, making it the most active sovereign investor in the Gulf. The Abu Dhabi Investment Authority committed another $12.2 billion, while L’IMAD Holding accounted for $10.8 billion.
Together, the three Abu Dhabi investment groups represented approximately $49.2 billion of the $102 billion deployed by sovereign investors across the Middle East and North Africa during the period, highlighting the emirate’s substantial influence over regional capital allocation.
Global SWF’s 2026 MENA Playbook, published in October, recorded 245 transactions involving regional sovereign investors. Their combined investments represented 39 per cent of worldwide dealmaking by state-owned investment institutions, although that proportion remained below levels recorded between 2023 and 2025.
Saudi Arabia’s Public Investment Fund ranked second among individual Gulf sovereign investors, deploying $14 billion, followed by Abu Dhabi Investment Authority, L’IMAD and Qatar Investment Authority, which invested $10.3 billion.
The figures emerged against continuing uncertainty surrounding regional security and economic conditions following the Iran conflict. Nevertheless, Abu Dhabi’s principal investment institutions maintained substantial international commitments, particularly across technology, infrastructure, financial services and strategically important industrial businesses.
A defining development was the January decision by Abu Dhabi’s Supreme Council for Financial and Economic Affairs to consolidate the assets and investments of L’IMAD Holding and Abu Dhabi Developmental Holding Group, known as ADQ, under L’IMAD.
The restructuring was designed to establish a larger sovereign investment institution combining operational businesses, industrial holdings and investment platforms across public and private markets.
The council said the arrangement would support sustainable investment and economic development while maintaining continuity in Abu Dhabi’s investment policies. The consolidation also brought greater attention to the management of government-controlled assets and opportunities for operational integration.
Another significant transaction involved AD Ports Group, where L’IMAD advanced a voluntary cash offer intended to secure full ownership of the listed ports and logistics operator.
By September, the investment group had satisfied the principal conditions required to proceed with the offer. The proposed transaction formed part of efforts to consolidate strategic holdings across transport, logistics and infrastructure, although the offer process and final ownership position required separate consideration.
Technology investments provided another major component of Abu Dhabi’s activity. Mubadala’s reported deployment included investments associated with Abu Dhabi Investment Council, Mubadala Capital and MGX, reflecting the emirate’s growing exposure to artificial intelligence and advanced digital infrastructure.
MGX participated in major financing transactions involving artificial intelligence companies, including OpenAI, Anthropic and Databricks. Such investments illustrated the emphasis placed on acquiring exposure to businesses developing computational infrastructure, software platforms and emerging technologies.
Separately, MGX joined investment partners in completing the acquisition of Aligned Data Centers in July, expanding its involvement in infrastructure supporting growing demand for computing capacity.
Abu Dhabi-listed International Holding Company also pursued acquisitions beyond traditional sectors. September brought an announcement that its subsidiary International Tech Group intended to acquire an 80 per cent interest in Marlan Holding, the parent of Marlan Space, subject to regulatory approvals.
The proposed investment would extend the group’s activities into satellite infrastructure, advanced manufacturing and space-related technologies. IHC described the acquisition as part of its strategy to develop investment platforms in industries with long-term growth potential.
IHC had previously announced plans to acquire a majority interest in Sammaan Capital through an investment valued at approximately $1 billion, further extending its international financial services interests.
Domestic real estate also attracted substantial capital. Aldar Properties and Mubadala announced the acquisition of Masdar City Square for AED918 million through their existing joint venture.
The transaction increased the venture’s Masdar City property portfolio to approximately AED4.7 billion. The acquired development comprises seven office buildings offering more than 47,000 square metres of leasable commercial space.
Completed during the first quarter, Masdar City Square was 99 per cent occupied when the acquisition was announced in September. Its tenants included organisations operating in energy, education and artificial intelligence.
The buildings hold sustainability certifications, including LEED Platinum and WELL Gold, with the acquisition adding income-producing commercial property to the partners’ existing holdings within Masdar City.
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