Middle East’s best Islamic fund manager 2026: Jadwa Investment

Jadwa Investment ended 2025 as one of the Gulf’s largest Shariah-dedicated asset managers, with SAR101 billion in assets under management (AUM) and a further SAR17 billion under advisement. The Riyadh-headquartered firm now manages and advises on roughly SAR118 billion of Shariah-compliant client assets across public and private markets, cementing its position as a regional reference point for Islamic investors.

A defining feature in the review period was the breadth of Jadwa’s product expansion. In private markets, the firm advanced its private equity vehicles – Jadwa GCC Private Equity Fund I/Jadwa GCC Diversified Private Equity Fund – and expanded its private credit platform through its first regional private credit fund.

Real asset activity was also significant, with 12 real estate funds launched across development and income-oriented strategies, including Jadwa Thraa Real Estate Fund and Jadwa Thraa Real Estate Fund 2, Jadwa North Gate Real Estate Fund and other vehicles focused on Saudi Arabia’s expanding residential, infrastructure and mixed-use development pipeline.

All told, the period demonstrated Jadwa Investment’s ability to translate its Islamic principles into a modern multi-asset offering

Internationally, the advisory platform continued to broaden, adding new multi-manager and developed markets strategies across private equity, real assets, absolute return and global equity exposures.

Public market innovation also continued. In response to heightened global volatility, index concentration and shifting macroeconomic conditions, Jadwa introduced Shariah-screened developed-markets equity strategies, including Managed Volatility Equity and Core Equity, designed to improve portfolio resilience and risk-adjusted returns. These strategies sit alongside Jadwa’s long-running Saudi, Gulf Cooperation Council (GCC) and Arab Markets equity funds, whose since-inception outperformance remains a key feature of the firm’s public equity franchise. Meanwhile, Jadwa Global Sukuk Fund continued to offer one of the longer track records in global sukuk investing.

Real estate edge

Real estate remained a signature differentiator. Jadwa consolidated its status as one of the Kingdom’s leading real estate investment trust (Reit) managers, with Jadwa Reit Saudi and Jadwa Reit Al Haramain, taking combined listed Reit AUM beyond SAR3.1 billion. More broadly, real estate accounts for a substantial share of Jadwa’s platform, giving the firm critical mass across development, income-generating and international property strategies.

Thought leadership and talent build-out underpinned this growth. Senior executives contributed to regional industry forums including the Ministry of Investment’s family office event during the ninth edition of the Future Investment Initiative (FII9) and SuperReturn Saudi Arabia, strengthening Jadwa’s visibility in Islamic finance and asset-management debates. Internally, the recruitment of Fidaa Haddad as managing director and head of private credit, and Abdullah Al Zouman as managing director, multi-asset solutions, added expertise in areas where the firm is scaling. Together with further hires across investment operations, investment advisory and portfolio management, these appointments deepened Jadwa’s Shariah-compliant buy-side capabilities.

All told, the period demonstrated Jadwa Investment’s ability to translate its Islamic principles into a modern multi-asset offering: expanding in private credit, broadening real asset exposure, adding risk-managed global equities and strengthening intellectual capital, while keeping its platform anchored in Shariah-compliant investment frameworks.