Abu Dhabi-based Mubadala Investment Company emerged as the world’s most active sovereign wealth fund in the first half of 2026, deploying $15.2 billion despite heightened market volatility caused by the US-Iran conflict, according to a report by Global SWF.
The report revealed that Gulf Cooperation Council (GCC) sovereign wealth funds committed a record $53.9 billion across 108 transactions during the first six months of the year. The investment volume marked the fourth most active semester ever recorded by the wealth fund tracker.
According to the 2026 GSR Scoreboard data, GCC sovereign wealth funds participated in 21 of the 42 global mega-deals valued at more than $1 billion, highlighting their growing role as frequent co-investors alongside major international asset owners.
Among the largest transactions was the $6 billion acquisition of gaming studio Moonton Technology from ByteDance by Savvy Games Group, which is owned by Saudi Arabia’s Public Investment Fund.
Other notable deals included Mubadala’s investment alongside TWG in Clear Channel, as well as a multi-billion-dollar co-investment by the Qatar Investment Authority and California Public Employees’ Retirement System with GIP and EQT to take energy company AES private.
The United States attracted nearly half of total GCC sovereign investments, followed by China and the United Kingdom. Technology remained the most favored sector, driven largely by funding rounds involving artificial intelligence-related companies.
Global SWF said state-owned investors collectively deployed $143.6 billion through 366 deals during the period. Investor groups including Canada’s Maple 8, Singaporean funds, and Gulf sovereign wealth funds all increased investment activity compared with the previous semester.
Although geopolitical tensions stemming from the Iran conflict and rising oil prices triggered market uncertainty, global markets rebounded quickly, pushing total sovereign wealth fund assets under management to $62.5 trillion.
“In terms of investment activity, the first half of 2026 saw sustained, if not higher, dealmaking by most state-owned investors,” the report noted. Excluding the one-off $28.8 billion investment by Saudi Arabia’s Public Investment Fund in Electronic Arts in December 2025, the total value of deals in H1 2026 was 9 percent higher than the previous semester.
The $55 billion public-to-private acquisition of videogame developer Electronic Arts set a new record as the largest leveraged buyout in history. The transaction was financed through $36 billion in cash and existing equity held by the Saudi sovereign wealth fund, along with $20 billion in debt financing arranged by JPMorgan Chase.
Globally, sovereign wealth funds invested $83.3 billion across 188 deals during the first half of 2026, while public pension funds committed $60.3 billion through 178 transactions, according to the scoreboard data.
