Riyadh – Sharikat Mubasher: U.S.-based Guggenheim Investments, managing around $357 billion in assets, is actively considering opening an office in Saudi Arabia as part of its Gulf expansion, with a focus on infrastructure and transportation investments.

As reporter by Reuters, the firm already operates in Dubai and is in the process of securing a license in Abu Dhabi, home to sovereign wealth funds managing approximately $2 trillion.

Guggenheim has been increasingly involved in the region, recently becoming a strategic partner of the Future Investment Initiative Institute, which organizes Riyadh’s flagship investment conference.

Speaking at the Milken Institute’s Middle East and Africa summit in Abu Dhabi, Anne Walsh, Guggenheim’s Chief Investment Officer, highlighted the region’s potential in artificial intelligence, technology, and energy sectors, noting opportunities in both fossil fuels and alternative energy to support technology-driven businesses.

Walsh confirmed that Saudi Arabia is under “active due consideration” and that the firm is exploring capital deployment beyond establishing an office, particularly in transportation equipment and infrastructure projects.

The announcement aligns with broader trends as Gulf states, including Saudi Arabia, accelerate economic diversification beyond hydrocarbons, targeting sectors like financial services, tourism, technology, and manufacturing. Recent engagements between U.S. and Saudi officials have underscored billions of dollars in growing bilateral investments and financial partnerships.