Saudi Arabia made up nearly half of Forbes Middle East’s 40 most influential asset managers

The Kingdom dominated the asset management scene in 2024, accounting for nearly half of Forbes Middle East Top 40 asset managers. We crowded the ranking with 19 firms driven by the “strength of its stock exchange,” while the UAE and Kuwait followed with six entries each. Collectively, Middle Eastern firms managed over USD 439 bn in assets in 2024, including equities, debt funds, discretionary portfolios, and real estate.

THE TOP TEN-

#1- SNB Capital CEO Rashad Sharif retained the top spot, managing asses worth USD 63.7 bn in 2024. The firm also oversaw Aramco’s USD 12.4 bn secondary offering, one of the largest in the Europe, the Middle East and Africa region since 2000.

#3- Al Rajhi Capital CEO Waleed Al Rashed AlHumaid led the firm to increase Aum by 61% y-o-y to USD 32.9 bn in 2024. The firm also acted as a joint bookrunner for Aramco’s offering.

#4- Jadwa Investments CEO & MD Tariq Al Sudairy fell short from the podium after leading an Aum growth of 36.5% y-o-y to USD 22.8 bn in 2024. The firm announced the closing of its first regional blind-pool private equity fund GCC Private Equity Fund 1 last November.

#5- Riyad Capital CEO Abdullah Abdulrahman Alshwer led the firm to USD 24.9 bn in Aum, securing the fifth spot after launching the Riyad SAR Liquidity Fund, the Riyad Monthly Distributions Multi-Asset Fund, and the 1957 Ventures fund to target the fintech industry.

#6- Alinma Capital CEO and MD Mazin Baghdadi secured the sixth spot, after Alinma Capital — previously Alinma Investment — oversaw Aum worth USD 24 bn in 2024. It also launched the USD 365.3 mn Alinma-Al Nahdi Real Estate fund to develop land in the Eastern Province.

Other managers who made the list:

• #12- Alistithmar Capital (ICAP) CEO Khaled Abdulaziz Alrayes
• #13- Sedco Capital CEO Abdulwahhab Abed
• #14- SAB Invest CEO Ali Almansour
• #15- BSF Capital CFO Salam AlKhunaizi
• #19- Albilad Capital CEO Zaid Mohammed Almufarih
• #20- Aljazira Capital CEO Naif Almesned
• #21- anb Capital Khalid Al-Ghamdi
• #22- Sidra Capital VC Ghassan Soufi
• #25- Areeb Capital CEO Khalid Al Jabri
• #26- Bloominvest Saudi Arabia CEO Abdullah Saud AlRashoud
• #27- Derayah Financial CEO Mohammed AlShammasi
• #28- AlKhair Capital CEO Abdullah Al Shilash
• #29- Alpha Capital CEO Fahad Khalid AlSaud
• #33- Alkhabeer Capital Ahmed Ghouth.

The Saudi German Health (SGH) received accreditation for 18 new Centers of Excellence across its hospitals in Saudi Arabia, raising the number of Australian Council on Healthcare Standards International (ACHSI) credited centers to 30, according to a press release. The newly accredited healthcare institutions specialize in emergency medicine, diagnostics, interventional radiology, and outpatient surgeries.