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ARTICLE · 07 MARCH 2024

Middle East – Geopolitics And Progress

Middle Eastern economies continued to expand in 2023 with M&A activity in the region fuelled in large part by sovereign wealth funds and other government-owned entities.

GlobalEnergy and Natural Resources

The region made global headlines in 2023 – while dominated by geopolitical events, key headlines also include economic growth, diversification and energy transition

Activity

Middle Eastern economies continued to expand in 2023 with M&A activity in the region fuelled in large part by sovereign wealth funds and other government-owned entities. Saudi Arabia's Public Investment Fund (PIF) took top spot with US$31.6 billion deployed globally, which represented almost one quarter of the total amount invested by sovereign wealth funds in 2023. The UAE's Abu Dhabi Investment Authority (ADIA) and Mubadala Investment Company followed closely (and in the top four globally) with US$13.2 billion and US$17.5 billion respectively.

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