The Gulf’s largest sovereign wealth fund is making a bigger push into alternative assets and private markets, targeting tens of billions of additional dollars into buyouts and hedge funds. In its 2025 review, Abu Dhabi Investment Authority (ADIA) said the fund increased its private equity investments target to up to one-fifth of the fund, from 12%–17% a year earlier; financial alternatives such as hedge funds increased to up to 12%, from 5%–10% previously.
ADIA, which rarely makes public disclosures of its holdings, invests on behalf of the Abu Dhabi government outside the Middle East, with assets estimated at around $1.1 trillion. Even a single-percentage shift in strategy represents around $11 billion. Check size for ADIA private equity deals had a median of $150 million each since 2020, according to PitchBook.