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Gulf Investment Corporation (GIC)

Banking and Finance

Gulf Investment Corporation (GIC) Overview

Gulf Investment Corporation (GIC) is an investment company equally owned by the governments of the six member countries of the Gulf Cooperation Council (GCC), Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.

It was founded in November 1983, a year after the GCC came into existence, and incorporated in Kuwait.

The GIC’s mission was defined as fostering economic growth and diversification and development of capital markets across the GCC region.

It has made investments in more than 60 different companies in a wide range of sectors including utilities, telecoms, financial services, healthcare, oil and gas, logistics and heavy and light industries, including steel and electrical products.

It has also conducted just under 20 exits as of the end of 2024.

The latest available figure for GIC’s total assets, from 2023, put them at $3.7 billion.

Gulf Investment Corporation (GIC) News

An older white woman checks a smart meter at home. Mubadala says Calisen has an installed base of 16 million smart meters

Mubadala sells stake in UK smart meter provider Calisen

Abu Dhabi’s sovereign wealth fund Mubadala Investment Company has completed the sale of its indirect stake in Calisen, a UK supplier of energy smart meters. Private equity infrastructure investors EQT and Singaporean sovereign wealth fund GIC will buy Calisen in a deal that values the company at around $5 billion. Mubadala, BlackRock and Goldman Sachs […]

A rendition of 2 Finsbury Avenue, which is being built in the City of London as a joint venture between Modon Holding, British Land and GIC

London tower project announced by Abu Dhabi’s Modon

A joint venture with property developer British Land and the Singapore sovereign wealth fund GIC to develop a dual high-rise office-led tower project in central London has been announced by Abu Dhabi’s Modon Holding.  The partnership will deliver a 750,000 square feet mixed-use project at an office-led campus in Broadgate in the City of London. It […]

Heathrow airport investment upgrade

Gulf-backed Heathrow announces $3bn investment plan

Heathrow Airport in London – now partly owned by two Gulf sovereign wealth funds: Saudi Arabia’s Public Investment Fund (PIF) and the Qatar Investment Authority – has announced a £2.3 billion ($2.9 billion) investment plan to upgrade the transport hub over the next two years.  The investment will be used to introduce new baggage systems, resurface […]

The latest deal between PIF, Ferrovial and other Heathrow Airport Holdings shareholders values the London airport at £8.7 billion

PIF acquires 15% stake in London’s Heathrow airport

Saudi Arabia’s Public Investment Fund (PIF) has acquired a 15 percent stake in FGP TopCo, the holding company of Heathrow Airport Holdings. The stake was purchased from Spanish infrastructure giant Ferrovial and other FGP TopCo shareholders. Simultaneously, Ardian, a Paris-headquartered private equity fund, has acquired 22.6 percent of FGP TopCo from the same shareholders through a […]

Abu Dhabi has five separate SWFs to diversify its investments

Abu Dhabi is top global city for SWF assets with $1.6trn

Abu Dhabi’s various sovereign wealth funds have a combined $1.67 trillion in assets, having overtaken Oslo to become the wealthiest global city for SWF assets. This total includes Abu Dhabi Investment Authority (Adia), Mubadala, ADQ and Abu Dhabi Fund for Development, plus the federal government-owned Emirates Investment Authority, according to a report by Singapore-based consultants […]

The Mohammed bin Rashid Al Maktoum Solar Park in Dubai. Altérra aims to catalyse the investment of $250 billion of private capital by 2030

Altérra-backed climate fund raises $2.4bn

A climate-focused fund backed by Altérra – a $30 billion UAE-based climate investment company – has raised $2.4 billion, nearly half of its target, to support clean energy projects across emerging markets.   Launched at Cop28 in Dubai last year, the catalytic transition fund includes a foundational $1 billion commitment from Altérra. NYSE-listed Brookfield Asset Management […]

ADIA Sanofi

ADIA ‘in talks to join Sanofi bid consortium’

Abu Dhabi’s trillion-dollar investment fund is in talks to join a consortium to buy the French drugmaker Sanofi’s consumer health division, according to a report by Bloomberg. Abu Dhabi Investment Authority (ADIA) and the Singapore sovereign wealth fund GIC have both been contacted by the French buyout firm PAI Partners with a view to joining […]

The Bombay Stock Exchange building in Mumbai

ADIA among funds investing $60bn in Indian stocks

Two sovereign wealth funds from the GCC and one from Singapore have invested a total of Rs5 trillion ($60 billion) in the Indian stock markets and startups as of March 31, 2024, a news report said. These investors include Abu Dhabi Investment Authority (ADIA), Kuwait Investment Authority and GIC Holdings Pte, Mint, an Indian financial newspaper, […]

Airport, Adult, Female

PIF agrees to buy 15% stake in London’s Heathrow airport

Saudi Arabia’s Public Investment Fund (PIF) and Paris-headquartered private equity fund Ardian have agreed to buy Spanish infrastructure giant Ferrovial’s 37.6 percent stake in London’s Heathrow, the UK’s busiest airport. Under the agreement, PIF and Ardian will acquire 15 percent and 22.6 percent, respectively, of FGP Topco, the parent company of Heathrow Airport Holdings, for a total […]