Brookfield Asset Management Ltd. is expanding its operations in the Middle East by opening a new office in Qatar, establishing a permanent local base as financial firms continue to deepen ties with the region’s major sovereign wealth funds. The new office will be anchored by Brookfield’s global credit platform, including Oaktree, according to a company statement released on Sunday.
The expansion builds upon an existing partnership between Brookfield and Qai, an artificial intelligence company that operates as a subsidiary of the Qatar Investment Authority. That collaboration aims to invest $20 billion in artificial intelligence infrastructure within Qatar and international markets. Brookfield currently manages approximately $20 billion in assets spanning private equity, real estate, credit, and infrastructure across the six nations of the Gulf Cooperation Council.
Jad Ellawn, Brookfield’s managing partner and regional head of the Middle East, described the physical establishment in Qatar as a natural progression for the firm’s regional growth strategy. The firm sees significant opportunity ahead and looks forward to continuing to invest and deepen collaborations in the region for the long term.
The move comes as global financial giants increasingly double down on the Middle East, home to sovereign wealth funds overseeing trillions of dollars in assets. These institutional investors have grown vital to international financial firms seeking to signal long-term commitment to Gulf economies amid ongoing geopolitical conflict and economic fallout.
Several other prominent international firms have recently established or announced local bases across the region. Advent International, Eurazeo, EQT AB, and Pantheon have all opened offices in Abu Dhabi, while retail investing platform Robinhood Markets Inc. announced plans to launch its regional services from a new Dubai base next year.
Before the onset of the conflict, the Qatar Investment Authority had signaled a return to the large-scale transactions that established it as one of the world’s premier sovereign investors. That activity drew firms such as BlackRock Inc.’s Global Infrastructure Partners to set up offices in Doha.
Qatar’s economy has faced substantial pressures, particularly following an Iranian strike on the Ras Laffan facility in March that knocked out approximately 17 percent of the country’s liquefied natural gas export capacity. Estimated losses from that strike reached $20 billion, with repair work expected to require at least three years. Consequently, LNG shipments remain well below prewar levels as ongoing risks affect tanker traffic through the Strait of Hormuz.
Despite these energy sector challenges, the Qatar Investment Authority has maintained its active pursuit of international deals and strategic partnerships. In September, the sovereign fund announced a targeted $20 billion partnership with JPMorgan Chase & Co., following a similar collaborative agreement established with Goldman Sachs Group Inc.
