The Global Wealth Conference (GWC) organized by the Sovereign Wealth Fund Institute (SWFI) last week in London has emerged as a pivotal driver of investment evolution in the MENA region. Taking center stage was the announcement of a new $5 billion ‘MEGAM’ fund, a collaboration between US-based Patel Family Office and KSA’s Ajlan & Bros Holding, which aims to raise an impressive $20 billion by investing in the thriving MENA hospitality sector. The initiative is poised to unlock the economic potential of the region, presenting a compelling opportunity for global investors.
The GWC achieved a significant milestone by attracting an impressive $5.3 trillion in assets under management over two and a half days of high-level discussions at the iconic House of Commons and Guildhall. This distinguished gathering, opened by The Rt Hon The Lord Mayor of London, Nicholas Lyons, featured over 20 sovereign wealth funds, 40 family offices, in addition to government officials, academics, fund managers and other leading experts.
Key personalities included Lord Dominic Johnson, UK Minister for Investment; Mohammed bin Abdulaziz AIajlan, Deputy Chairman, Ajlan & Bros Holding; Jitendra Bissessur, Chief Executive Officer, Mauritius Investment Corporation; H.E. Omar Mohamed Bin Khalifa Al Suwaidi, Group President, United Stars Group; Minister Abdurehman Eid Tahir, Chief Executive Officer, Ethiopian Investment Holdings; Mohammed Al Fahim, Acting Global Head of Wholesale Banking, Abu Dhabi Islamic Bank; The Rt Hon Sir Gavin Williamson MP, UK House of Commons; Prof Lord Meghnad Desai, UK House of Lords; and David Papazian, Chief Executive Officer, Armenian National Interests Fund.
Lakshmi Narayanan, Chairman of SWFI and Partner at Patel Family Office, and Michael Maduell, President of SWFI, in their joint statement, said, “We are delighted to have witnessed the tremendous success of the Global Wealth Conference. This landmark event has showcased the immense potential of the UAE market and demonstrated our unwavering commitment to driving its economic growth. Through strategic partnerships and innovative initiatives, we are confident in unlocking unparalleled opportunities for UAE investors and paving the way for a prosperous future across the region”.
In recognition of their exceptional contributions to wealth creation, heads of sovereign funds, representatives of state institutions, and investors were honored with the prestigious Global Order of Outstanding Disruptors (GOOD) Fellows Award by SWFI. Additionally, SWFI unveiled GlobalCryptoNews.com during the GWC, offering users a comprehensive and up-to-date resource on cryptocurrencies, blockchain technology, digital currencies, DeFi, and Web 3.0, all in one convenient location. The Patel Family Office introduced FORT Global, an innovative platform that supports Family Offices worldwide, connecting them with investors, entrepreneurs, and service providers, while leveraging disruptive technologies, investments, and sustainable finance to drive growth and prosperity.
