The Gulf Cooperation Council (GCC) is a powerhouse in the world of sovereign wealth funds, housing three funds, each managing over $1 trillion as of July 2025. Saudi Arabia’s Public Investment Fund (PIF) leads the pack in the region, followed by the Abu Dhabi Investment Authority (ADIA) and the Kuwait Investment Authority (KIA), according to Global SWF rankings.
Globally, Norway’s Norges Bank Investment Management (NBIM) holds the top spot with $1.76 trillion in assets under management (AUM). Two Chinese funds, SAFE Investment Company (IC) ($1.41 trillion) and China Investment Corporation (CIC) ($1.33 trillion), come in second and third, respectively.
Despite a 60% drop in net profit recently due to high interest rates and increased costs for its ambitious “giga-projects,” the PIF boasts an estimated $1.15 trillion in AUM. Its AUM grew by 18% over the last year, with 37% of its portfolio in alternative assets like real estate, infrastructure, and private equity. The PIF, which invests in major projects like NEOM and the Red Sea development, along with companies such as Softbank and Saudi Aramco, is on track to become the world’s largest sovereign wealth fund with $2 trillion in AUM by 2030.
The ADIA closely trails the PIF with $1.11 trillion in AUM, ranking fifth globally. Global SWF highlights ADIA’s significant investments in private markets, including real estate, infrastructure, and private equity, which make up 32% of its portfolio. ADIA’s investment strategy focuses on achieving total returns across its entire portfolio rather than just individual asset classes.
Rounding out the top GCC funds is Kuwait’s KIA, ranked sixth globally with $1.002 billion in AUM. Roughly 23% of KIA’s portfolio is in alternative assets, including holdings in major companies like BlackRock and Mercedes-Benz.
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