NCB Capital, the investment banking arm of the Saudi Arabia-based National Commercial Bank, is the Middle East’s biggest asset manager with $50.4 billion in assets under management (AUM), according to Forbes Middle East.
Bahrain’s Investcorp follows with $35 billion in AUM. Saudi’s Alinma Investment and Riyad Capital each has $18 billion in AUM, according to the Forbes list, which is based on the value of the companies’ total AUM as of December 2020.
Combined, the 30 listed companies control $258.2 billion in AUM. Saudi dominates the list with 16 entries, followed by the UAE with five entries. Combined, these two countries make up 70 percent of the ranking, Forbes said.
NCB Capital and Samba Capital & Investment Management Company will complete their merger in the third quarter of 2021, forming the biggest asset manager, brokerage, and investment bank in Saudi Arabia.
The Middle East’s 10 Biggest Asset Managers 2021
1.NCB Capital; Saudi Arabia; AUM: $50.4 billion
2. Investcorp; Bahrain; AUM: $35 billion
3. Alinma Investment; Saudi Arabia; AUM: $18 billion
4. Riyad Capital; Saudi Arabia; AUM: $18 billion
5. Wafa Gestion: Morocco; AUM: $14.4 billion
6. SHUAA Capital; U.A.E.; AUM: $14 billion
7. Al Rajhi Capital; Saudi Arabia; AUM: $13.3 billion
8. Kamco Investment; Kuwait; AUM: $13 billion
9. GFH Financial Group; Bahrain; AUM: $12 billion
10. Jadwa Investment; Saudi Arabia; AUM: $8.6 billion
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