Forbes Middle East has announced its annual ranking of the Top 40 Asset Managers, recognizing the region’s most powerful financial leaders. These industry veterans collectively managed over $439 billion in assets in 2024, shaping the investment landscape across equities, real estate, private equity, and debt funds.
The ranking focuses on professionals handling public funds on a fiduciary basis, excluding sovereign wealth funds and private/family offices. Evaluation criteria included Assets Under Management (AUM), growth from 2023 to 2024, leadership tenure, key achievements, and a preference for independent firms over bank-backed institutions.
The Powerhouses of Middle Eastern Asset Management
At the top of the list, Rashed Sharif, CEO of SNB Capital, maintained his number one position, managing $63.73 billion in AUM in 2024. His firm also played a crucial role in a $12.35 billion secondary offering for Saudi Aramco—one of the largest deals in the EMEA region since 2000.
Following closely, Mohammed Alardhi, Executive Chairman of Investcorp, retained his second-place ranking, with $53 billion in AUM. Meanwhile, Waleed AlRashed AlHumaid, CEO of Al Rajhi Capital, jumped from sixth place in 2024 to third, overseeing $32.86 billion in assets.
Saudi Arabia Leads the Way
The Middle East’s financial landscape is dominated by Saudi Arabia, which is home to 19 of the 40 top asset managers. The U.A.E. and Kuwait follow with six representatives each. Notably, Faisal Al-Hamad, CEO of NBK Wealth, is the only newcomer in the top 10. His firm, the investment arm of NBK Group, managed $22 billion in AUM in 2024.
Driving Financial Innovation
Beyond traditional investments, Middle Eastern asset managers are leading financial innovation. In April 2024, Mohammed Alardhi spearheaded the launch of Investcorp’s $1 billion Golden Horizon platform, in partnership with the China Investment Corporation, targeting high-growth companies across the GCC and China.
Similarly, Mazin Baghdadi’s alinma capital, in collaboration with Mohammed Al Nahdi Real Estate, introduced a $365.3 million real estate fund to develop 1.6 million square meters of land in Saudi Arabia’s Eastern Province. Meanwhile, Zaid Mohammed Almufarih led Albilad Capital’s launch of four private real estate funds, collectively worth $1.1 billion.
On the Islamic finance front, KFH Capital facilitated over $17.8 billion in sukuk issuances, while Kamco Invest managed nine bond and sukuk issuances totaling $4.2 billion.
The Middle East’s Top 10 Asset Managers of 2025
- Rashed Sharif | SNB Capital (Saudi Arabia)
- Mohammed Alardhi | Investcorp (Bahrain)
- Waleed AlRashed AlHumaid | Al Rajhi Capital (Saudi Arabia)
- Tariq Al-Sudairy | Jadwa Investment (Saudi Arabia)
- Abdullah Abdulrahman Alshwer | Riyad Capital (Saudi Arabia)
- Mazin Baghdadi | alinma capital (Saudi Arabia)
- Hisham Alrayes | GFH Financial Group (Bahrain)
- Faisal Al-Hamad | NBK Wealth (Kuwait)
- Faisal Mansour Sarkhou | Kamco Invest (Kuwait)
- Karim Awad | EFG Holding (Egypt)
- Reda Hilali | Wafa Gestion (Morocco)
- Khaled Abdulaziz Alrayes | Alistithmar Capital (Saudi Arabia)
- Abdulwahhab Abed | SEDCO Capital (Saudi Arabia)
- Ali Almansour | SAB Invest (Saudi Arabia)
- Salam AlKhunaizi | BSF Capital (Kuwait)
- Michail Samawi | Emirates NBD Asset Management (UAE)
- Najla Al Shirawi | SICO BSC (Bahrain)
- Abdulaziz Almarzooq | KFH Capital (Kuwait)
- Zaid Mohammed Almufarih | Albilad Capital (Saudi Arabia)
- Naif Almesned | Aljazira Capital (Saudi Arabia)
- Khalid S. Al-Ghamdi | anb capital (Saudi Arabia)
- Ghassan Soufi | Sidra Capital (Saudi Arabia)
- Hichem Djouhri | ASB Capital (Algeria)
- Ali H. Khalil | Kuwait Financial Centre ‘Markaz’ (Kuwait)
- Khalid Al Jabri | Areeb Capital (Saudi Arabia)
- Abdullah Saud AlRashoud | BLOMINVEST Saudi Arabia (Saudi Arabia)
- Mohammed AlShammasi | Derayah Financial (Saudi Arabia)
- Abdullah Al Shilash | AlKhair Capital (Saudi Arabia)
- Fahad Khalid AlSaud | Alpha Capital (Saudi Arabia)
- Fahad Abdulrahman Al Mukhaizim | National Investment Company (Kuwait)
- Mohamed Hussain Al Nowais | Waha Capital (UAE)
- Husayn Shahrur | ABK Capital (Saudi Arabia)
- Ahmed Ghouth | Alkhabeer Capital (Saudi Arabia)
- Mohammed Ismail Al Emadi | Lesha Bank (Qatar)
- Gavin Rankin | ADCB Asset Management Limited (UAE)
- Hussein Fakhreddine | QInvest (Qatar)
- Amr Abol-Enein | CI Capital Asset Management (Egypt)
- Zak Hydari | Rasmala Investment Holdings (UAE)
- Adel Kamel El Waly | Al Ahly Financial Investments Management (Egypt)
- Philip Philippides | Mashreq Capital (UAE)
Conclusion
Middle Eastern asset managers are playing a crucial role in shaping regional and global financial landscapes. With Saudi Arabia leading in numbers and firms expanding their influence into real estate, sukuk, and private equity, the future of asset management in the region is stronger than ever.
Forbes Middle East continues to recognize these financial leaders, acknowledging their impact on markets and economies worldwide.
Last Updated on March 17, 2025 by Safiya K
