Gulf states are taking an expanding role in the global mergers and acquisitions market, new data shows.
Data from mergers and acquisitions tracker Zephyr shows that the states spent $83 billion last year and accounted for 1.7 per cent of all deals enacted last year, according to a separate study from Dealogic.
This is a the highest figure since monitoring began and is more than double last year's total, the Financial Times reports.
The funding was earmarked for at least 173 deals, although the actual figure of acquisition could have been significantly higher since the details of another 108 cross-border transactions were not disclosed.
Harry Azzam, chief executive of Deutsche Bank, said that Gulf states are likely to take an even more prominent role while oil stays at its current high price.
He explained: "If oil prices stay where they are, the surpluses in this region will increase and the sovereign wealth funds [will] continue to invest abroad. How much depends on what happens to the oil price."
