Page 68 - Aamir Rehman Gulf Capital and Islamic Finance The Rise of the New Global Players

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T
houses
vehicles
Category
ABLE
ment investment
eign wealth funds
Private institutions
Private investment
“Generalist” sover-
“Specialist” govern-
2.1
ment
wealth
wealth
investors
third-party
Objectives
grow private
Preserve and
Preserve and
grow national
Grow national
cial returns for
wealth through
strategic invest-
Maximize finan-
billion
billion
above
$10 billion;
Typical Size
$50 billion and
Typically below
$10 billion–$80
growing rapidly
ically below $10
Vary widely; typ-
Gulf Institutional Investors Fit into Four Broad Categories
Governments
Governments
Private; typically
Private; typically
business families
business families
Source of Wealth
vary
types
Generally
strategies
diversified
ments, but
Defined by
Strategies
investment
Often alter-
Vary widely
Investment
sectors and
increasingly
native invest-
conservative;
teams
teams
Actively
portfolio
managed
by internal
agers with
executives
Approach
overseen by
Actively man-
Management
nal fund man-
nal capabilities
Typically exter-
fund managers
increasing inter-
aged by internal
Largely external
(UAE)
(KSA)
(Bahrain)
Abu Dhabi
Examples
Investcorp
Investment
Kanoo family
Capital (UAE);
(KSA); Kharafi
Authority (QIA)
Capital (UAE);
Authority (KIA);
Saudi Industrial
Group (Kuwait);
House (Kuwait);
Authority (ADIA);
Qatar Investment
(Bahrain); Abraaj
Mubadala (UAE);
Kuwait Investment
Global Investment
Kingdom Holdings
Development Fund
Dubai International