Fund Managers in the GCC Region

by Siobhan Brewster

  • 02 Jun 2010
  • PE

The GCC states are those countries that make up the Gulf Cooperation Council and represent a political and economic union involving the six Arab states of the Persian Gulf. Bahrain, Kuwait, Saudi Arabia, Oman, Qatar and the United Arab Emirates all signed the Gulf Cooperation Council in November 1981 and have since sought similar economic and social objectives. Preqin research shows that there are currently 68 fund managers based in the GCC region with the majority based in the United Arab Emirates. Private equity fund managers located in the GCC region have raised private equity funds totalling over $17.6 billion in the last 10 years.

Preqin’s Fund Manager Profiles product reveals that the United Arab Emirates is home to 37 fund managers with six based in Abu Dhabi and 29 based in Dubai. The United Arab Emirates is responsible for raising more than $10.7 billion worth of funds over the last 10 years and is home to the largest fund manager in the GCC region in terms of total capital raised. Abraaj Capital is a private equity firm headquartered in Dubai and invests in the Middle East, North Africa and South Asia (MENASA). Abraaj Capital specializes in buyout investments that capitalize on the high-growth economies of the MENA region.

The Kingdom of Bahrain is the second most popular area for fund managers to locate to in the GCC region and all 10 fund managers based there are located in Manama. GrowthGate Capital Corporation is the largest fund manager in Bahrain in terms of total capital raised and is responsible for 30% of the $1.6 billion raised there over the last 10 years. Kuwait may house less fund managers than Bahrain but the country’s nine fund managers have amassed funds worth over $3.1 billion in the last decade making it the second most successful country in terms of funds raised in the GCC region.

Saudi Arabia’s fund managers are all located in the cities of Riyadh, Jeddah and Dammam. Swicorp is the largest private equity firm headquartered in Saudi Arabia in terms of total funds raised and it is currently raising a $400 million expansion fund focused on the MENA region. There are three fund managers located in the city of Doha, Qatar and one based in the Sultanate of Oman.

For more information on private equity fund managers on a global basis, please see Preqin's Fund Manager Profiles.

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