ع
BlackRock which manages more than $14 trillion globally continues to view the Middle East as a core strategic priority according to a spokesman who told The National that the firm’s commitment to investing in the region and supporting clients is long term and unchanged. The New York headquartered manager which secured a commercial licence from Abu Dhabi’s ADGM in November 2025 maintains $128 billion in regional assets under management a fraction of its total base. BlackRock vice chairman Philipp Hildebrand stated in December 2025 that the Middle East serves as a two way portal for global capital flows and the firm aims to capture a larger share of investment opportunities while rapidly building product offerings and personnel.
State Street which oversees $5.7 trillion in assets has left its conviction and growth plans for the Middle East and Africa unchanged despite the regional conflict according to Karine Kheirallah head of investment strategy and research for the region who told The National. The Boston based firm remains fully committed to expanding its footprint team and capabilities and is recruiting additional staff in its UAE and Saudi Arabia offices Kheirallah added. Such moves reflect a pattern among global managers that have established or strengthened bases in the Gulf to partner with sovereign wealth funds family offices and institutional investors.
Abu Dhabi’s ADGM recorded a 36 percent annual rise in assets under management at the end of 2025 with 171 asset and fund managers overseeing 244 funds according to the authority’s own announcement. The centre housed 347 financial institutions by December including 80 that were licensed during the year while DIFC saw new company registrations jump 28 percent to a record 1 924 with wealth and asset managers exceeding 500 and more than 290 banks and financial market companies in place. ADGM later reported a further 57 percent increase in assets under management during the first quarter of 2026 with the number of asset and fund managers rising 24 percent to 179 according to its May 2026 update while Norton Rose Fulbright analysis placed DIFC assets under management at $700 billion after a 58 percent surge in early 2024.
Lombard Odier which has served clients in the Middle East for more than six decades described the region as a strategic priority with its Dubai presence reflecting long term commitment according to Ali Janoudi head of new markets who told The National. Mirabaud a Swiss private bank operating from DIFC for more than two decades highlighted its category 1 banking licence as confirmation of trust in the UAE and regional expansion objectives according to senior investment adviser Elias Ghanem who told The National. Hillhouse Investment Management a $100 billion global alternative asset manager became one of the latest to open an office in ADGM amid continued interest from trillion dollar managers such as PGIM and Nuveen already based in the Abu Dhabi centre.
Cross border deal making persisted despite the conflict that began on February 28 and led to closure of the Strait of Hormuz through which a fifth of global oil normally passes according to The National. A unit of Abu Dhabi’s 2PointZero agreed on March 31 to acquire a US gas infrastructure company for $2.25 billion while Saudi Arabia’s Public Investment Fund and Qatar’s sovereign wealth fund also announced transactions last month. UAE Minister for Economy and Tourism Abdulla bin Touq stated that the country’s economy is resilient and a 40 day conflict will not determine its future with the nation positioned to rebound quickly.
The International Monetary Fund projected GCC growth at 2 percent for 2026 a significant downward revision from prior forecasts due to energy disruptions and uncertainty from the Iran war according to its April 2026 regional outlook. Julius Baer region head of emerging markets Rahul Malhotra who maintains offices in Dubai Abu Dhabi and Manama told The National that despite adversity and growing geopolitical headwinds the Swiss wealth manager remains fully committed to serving clients and partners in the region. Such statements align with the broader view among interviewed managers that long term economic fundamentals in the six member bloc remain intact even as short term pressures affect sectors including travel tourism and hospitality.
