Mubadala Leads GCC Sovereign Investments as China Draws 10 Percent of Deployments

Abu Dhabi's Mubadala was the most active fund among the top 10 GCC sovereign wealth funds during the first nine months of 2026, deploying $26.2 billion globally, according to a report by Global SWF. Saudi Arabia's Public Investment Fund followed with $14 billion, Abu Dhabi Investment Authority with $12.2 billion, L'imad with $10.8 billion, and Qatar Investment Authority with $10.3 billion.

In total, MENA sovereign investors deployed $102 billion across 245 transactions in the first three quarters of the year, representing 39% of all state-owned global dealmaking. Approximately 81% of the $102 billion was invested globally, while nearly a fifth remained within their domestic economies.

China, including Hong Kong, was the second-largest international destination for Gulf sovereign wealth, capturing 10% of the total deployed value. The United States remained the primary destination at 45%, followed by the United Kingdom at 7% and Singapore at 3%.

Technology, including artificial intelligence funding rounds, was the leading target sector, representing nearly 30% of total value and 28% of deal volume. Mubadala's deployment included participation by subsidiaries Abu Dhabi Investment Council, Mubadala Capital, and MGX in financing rounds for OpenAI, Anthropic, and Databricks. Infrastructure and financial services followed, capturing 22% and 14% of capital, respectively.