Top Private Equity Firms in Dubai Ranked by AUM

The largest private equity firms in Dubai are global managers with licensed offices in the Dubai International Financial Centre (DIFC), led by KKR, Carlyle, CVC, Warburg Pincus and H.I.G. Capital. Alongside them sit Dubai-headquartered investors such as Gulf Islamic Investments, Fajr Capital and Amanat Holdings, which are smaller and invest in Gulf companies on behalf of regional investors.

For you, the split decides what a Dubai role looks like. Many global offices in the DIFC raise money from Gulf investors, while the local firms source, buy and manage companies in the region.

We rank the global firms by the firm-wide assets under management (AUM) each one reported most recently, with figures dated between March 2025 and October 2026. CVC reports in euros and H.I.G. uses capital under management. The Dubai-headquartered firms are listed separately and unranked.

Which are the top private equity firms in Dubai?

The table shows the ranked global firms, the Dubai entity or office behind each one, and when it opened.

Two more groups complete the list:

• Permira: runs a DIFC representative office and reports €80bn raised to date. Its announcement gave capital raised instead of AUM, so it sits outside the ranking.
• Dubai-headquartered firms: Gulf Islamic Investments (more than $3.5bn of AUM), Fajr Capital (more than $2bn invested) and Amanat Holdings (a listed healthcare and education investor).

Global private equity firms with Dubai offices

These five firms run global funds and use the DIFC to cover Gulf investors and deals. Rank follows the AUM figure in the table above.

1. KKR

KKR is the largest firm on the list, with $796bn of AUM at the end of the second quarter of 2026, up 16% year on year, according to Teleborsa’s report on its results.

KKR has had a local presence in the Middle East since 2009 and lists offices in Abu Dhabi, Dubai and Riyadh. Its Dubai entity, KKR MENA, received its Dubai Financial Services Authority (DFSA) licence in May 2009, as Private Equity Wire reported. The mandate was to pursue private equity and infrastructure transactions in the region and to distribute KKR products.

2. Carlyle

Carlyle reported $479bn of AUM as of 30 September 2026 in its third quarter results, published on 5 November 2026.

Carlyle announced its DIFC office on 19 November 2006, with Paul Bagatelas as managing director for investor relations and senior executive officer and a brief to work with Carlyle’s investors across the Middle East and North Africa (MENA).

3. CVC Capital Partners

CVC manages about €239bn of AUM as of 30 September 2026, according to its own network page. It lists 25 office cities, including Dubai, run through CVC Advisers (Middle East) Limited in the DIFC.

CVC first planned the Dubai office in 2021, with managing director Ozgur Onder named to lead it, according to Funds Global MENA.

4. Warburg Pincus

Warburg Pincus had $86bn of AUM when Arab News reported its memorandum of understanding with Saudi investor Hassana Investment Company in March 2025.

Its Dubai entity, Warburg Pincus MENA Advisors Limited, received its DFSA licence on 26 June 2025, according to the DFSA public register. The office sits in ICD Brookfield Place in the DIFC and is authorised for advising on financial products and arranging deals in investments.

5. H.I.G. Capital

H.I.G. Capital describes itself as a global alternative investment firm with $75bn of capital under management, in releases from October 2026.

H.I.G. opened its DIFC office in January 2024, Enterprise AM reported, with managing director Oliver Slade and principal Alexia Klat overseeing it.

Another global firm with a Dubai office

Permira announced its Dubai office in February 2025 and the office is now open.

Permira

Permira announced in February 2025 that it would open a Dubai office that year, alongside the hire of Chris Buchanan as global head of capital formation. The announcement said Permira had raised €80bn to date.

The office is now listed on Permira’s website as a DIFC representative office in The Gate Building, with Nader Salman as head of Middle East. Permira has more than 500 people across 15 offices, and it opened the Dubai office to grow strategic partnerships in the Middle East.

Dubai-headquartered private equity firms

These firms are based in Dubai and invest mainly in the Gulf. They are far smaller than the global managers, so they are listed without a rank.

Gulf Islamic Investments

Gulf Islamic Investments (GII) is a sharia-compliant alternative asset manager founded in Dubai in 2014 by Mohammed Alhassan and Pankaj Gupta, starting from around $5m of capital. AGBI reported in 2025 that it manages more than $3.5bn, mainly for sovereign wealth funds and family offices.

GII invests through private equity and private debt in healthcare, education and manufacturing in Saudi Arabia and the UAE, and owns 80% of zSpace. In January 2026 it told Private Equity Wire it aims to reach $10bn of AUM by the end of the decade, roughly triple its current size.

Fajr Capital

Fajr Capital was set up in 2008 and is based in Gate Village 5 in the DIFC. At its 2009 financial close it had more than $700m of committed capital from investors including the Abu Dhabi Investment Council, Brunei Investment Agency, HSBC and Khazanah Nasional. It reports more than $2bn invested across nine sectors and eight markets.

Fajr raises capital deal by deal through investor syndicates. In April 2024 it led the group that bought 65% of Aster DM Healthcare’s Middle East operations, valuing Aster GCC at about $1bn, according to The National. Fajr, led by chief executive Iqbal Khan, targets about $7bn of AUM by the end of the decade.

Amanat Holdings

Amanat Holdings is a Dubai-based investment company listed on the Dubai Financial Market. It owns and builds healthcare and education businesses, including Cambridge Health Group and Almasar Education.

In 2025 its revenue rose 17% to AED 931.7m, and profit from continuing operations rose 42% to AED 248.1m. Because its shares are listed, Amanat publishes full financial statements you can study before an interview.

How to use this list

A Dubai office can mean a deal team, a fundraising seat or both. Before you apply or pitch, work out which one you are dealing with.

• Check the DFSA register: the DFSA public register shows each firm’s legal entity, licence date and permitted activities. Warburg Pincus’s entry, for example, lists advising and arranging deals.
• Read the first hires: Carlyle’s Dubai office launched with an investor relations head and Permira’s opening came with a capital formation hire. Those offices recruit for investor-facing roles first.
• Look for local deals: KKR MENA was set up to pursue regional transactions, and Fajr and GII invest directly in Gulf companies. Those firms are more likely to need deal-side staff locally.
• Watch new arrivals: Blackstone, which manages $1.35tn, is planning a DIFC office, according to Gulf News in July 2026. That would mark its return to Dubai about six years after it moved its regional base to Abu Dhabi.

If you are comparing hubs, our guides to the top private equity firms in New York and the top investment banks in Dubai show who else hires in each market. For sector specialists, see the top infrastructure private equity firms, the top software private equity firms and the top consumer private equity firms.

FAQ

What is the largest private equity firm in Dubai?

KKR is the largest private equity firm with a Dubai office, with $796bn of firm-wide AUM at the end of the second quarter of 2026. It has held a DFSA licence through KKR MENA since 2009 and also runs offices in Abu Dhabi and Riyadh. Carlyle ranks second with $479bn.

Where are private equity firms based in Dubai?

Most of the firms on this list are in the Dubai International Financial Centre, the free zone regulated by the DFSA. Permira is in The Gate Building, Fajr Capital is in Gate Village 5 and Warburg Pincus is in ICD Brookfield Place. Each firm’s DFSA licence sets what it can do there, from advising and arranging deals to marketing its funds.

Are Dubai private equity jobs mostly fundraising roles?

Many global firms entered Dubai through investor relations or capital formation, as Carlyle and Permira did. Deal roles exist too, especially at KKR and local investors such as Fajr Capital and Gulf Islamic Investments. Check each firm’s DFSA permitted activities and its recent regional deals before you apply.

Which Dubai private equity firm is sharia-compliant?

Gulf Islamic Investments runs a sharia-compliant platform across private equity, real estate and private credit. It was founded in Dubai in 2014, manages more than $3.5bn and invests in healthcare, education and manufacturing in Saudi Arabia and the UAE. Its stated goal is $10bn of AUM by the end of the decade.

Conclusion

The top private equity firms in Dubai are KKR, Carlyle, CVC, Warburg Pincus and H.I.G. by firm-wide AUM, with Permira and the Dubai-based GII, Fajr Capital and Amanat Holdings completing the market. Before you approach any of them, check whether its Dubai office raises capital or does deals, because that decides the role you can get.

P.S. If you are building a target list of Gulf and European managers, the Private Equity & Venture Capital Fund Database – EMEA is built for exactly this kind of outreach, and our Premium Resources include additional tools you might be interested in. For weekly finance updates and the latest financial reports, join the Private Equity Bros newsletter.

Sources

• Carlyle Reports Third Quarter 2026 Financial Results
• Warburg Pincus MENA Advisors Limited
• Our network
• KKR in the Middle East
• Permira bolsters capital formation team with senior appointments, new Dubai office planned to grow strategic partnerships in the Middle East
• Dubai-based GII targets $10bn AUM as Middle East PE market matures
• US private equity firm Warburg Pincus to explore investment opportunities in Saudi Arabia