The one thing we can all agree on is that we are over the debt ceiling drama.

On a more exciting note, the majority of Gulf SWFs were in New York last week. We were able to meet with the entire bunch, including QIA, PIF, OIA, and Mubadala. The common feedback was that they were impressed by the number of people and tourists in the city (it's buzzing!). For some, it was their first time in New York, and they could easily see the rationale behind investing in a thriving city that attracts so many people.

More notably, they are studying the opportunity to ramp up their U.S. real estate exposure after being predominately positioned in the UK and Europe. In parallel, several have already increased their New York employee headcount. 

Historically, Qatar (through QIA) and Kuwait (through KIA/KIO) heavily invested in the UK and France, with their HNWIs and local family offices closely following suit. Today, the U.S. is seeing heightened interest from the region. Meanwhile, Wall Street bankers and social media influencers have flocked to the Gulf. This mutual interest suggests there will likely be a ‘cultural warming’ between the U.S. and the Middle East in the near future. 

So what else did New York have going on this spring besides restaurants being impossible to reserve? Let's dive in!

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