Abu Dhabi’s Mubadala Tops Saudi PIF With $29 Billion Deals (1)

Abu Dhabi’s Mubadala Investment Co. was the world’s most active sovereign wealth fund last year as it ramped up deal-making across everything from private credit to artificial intelligence.

That came as Saudi Arabia’s Public Investment Fund, which was the most active in 2023, slowed down spending and refocused on investing at home.

Mubadala deployed $29.2 billion in 2024, according to research consultancy Global SWF. That was 67% more than a year earlier and far out-paced the 7% wider growth in investments by sovereign funds globally.

Middle East sovereign wealth funds made up five of the top 10 most active ...