最新消息：随着伊朗战争爆发，全球最大的资产管理公司贝莱德正加大对海湾地区的投入力度。该公司预计，战后海湾各国将把更多巨额国家财富用于国内投资，因此希望借此提升在该地区的业务影响力。
The News BlackRock is ramping up its commitments to the Gulf as the world’s largest asset manager seeks to boost exposure to a region that it expects to use more of its vast state wealth to invest domestically in the wake of the Iran war.
尽管这场已持续八个月、令海湾地区始终处于不确定状态冲突仍未得到解决，但贝莱德投资研究所中东及亚太地区首席投资策略师本·鲍威尔表示，公司对该地区的关注程度丝毫未减。
Despite no resolution to the conflict, now in its eighth month and keeping the Gulf in a state of suspended uncertainty, the firm is “undiminished in our focus” on the region, said Ben Powell, chief investment strategist for the Middle East and Asia-Pacific at the BlackRock Investment Institute.
出人意料的是，这种乐观态度恰恰源于该地区的相对稳定：“从游戏规则、对商业的积极态度，再到人力资本、金融资本与能源资源来看……我坚信这是一个切实存在且将在未来五到十年内持续发展的趋势。”鲍威尔说道。
Counterintuitively, the bullishness stems from the region’s relative stability: “In terms of the rules of the game, the positive attitude towards business, not to mention human capital, financial capital, energy … I feel very confident that this is a story that is true and real and going to play out over the next five, 10 years,” he said.
鲍威尔指出，在整体局势趋于平稳的世界中，稳定性其实算不上什么亮点；但在一个充满动荡与变数的世界里，这种稳定性便显得弥足珍贵——其价值相当于普通稳定环境下的十倍。而如今，世界正变得越来越不稳定。鲍威尔认为，持续的通货膨胀、地缘政治分裂以及资本成本上升将促使投资者更加审慎地选择投资标的。“我们今后犯错的概率也会增加……凡是能带来确定性的机会，我们都应紧紧抓住，因为这样的机会实在稀缺。”他说道。
Stability “in a world of great moderation, that’s not that interesting,” Powell said. “But in a world of excitement, that becomes much rarer … it is worth 10 times what it was in a world where everything’s okay.”And increasingly, everything is not okay. Powell’s broader outlook is that persistent inflation, fragmentation, and higher capital costs will make investors more selective. “We’re all going to be incorrect more often … Where you can find confidence, grab it with both hands because it’s in short supply,” he said.
据悉，贝莱德管理着超过15万亿美元的资产，在阿布扎比、迪拜、利雅得、多哈及科威特城均设有办事处。鲍威尔表示，海湾地区“仍将是重要的资本输出地”，不过“或许有一部分原本计划外流的资金会留在国内”。他估计这一数额在500亿至1000亿美元之间，但也强调这一估算存在较大误差范围。鲍威尔将这一资金流向变化归因于海湾各国为推进经济多元化，预计在2030年前将投入2.1万亿美元用于战略性开支。
Know More BlackRock, which manages more than $15 trillion, has offices in Abu Dhabi, Dubai, Riyadh, Doha, and Kuwait City. Powell said the Gulf will “continue to be a significant exporter of capital,” but that “at the margin, maybe some portion of that money that was going to flow out is going to stay at home.”He put the amount at $50 billion to $100 billion, and cautioned that the estimate has wide error bands. Powell tied that shift to the $2.1 trillion in strategic capital spending the institute estimates the Gulf states will make in its diversification push through 2030.
他表示，更大的变化在于对能源、基础设施以及该地区人工智能建设方面“社会和经济韧性”的关注，其中包括“一些我们希望利用率非常低的项目”。
The bigger change, he said, is a focus on “societal and economic resilience” across energy, infrastructure, and the region’s build-out for AI, including “some projects where we hope utilization rates will be very low.”
鲍威尔表示，其中部分支出“几乎是一种保险政策”：“我们将建设一些希望永远用不上的管道。”
Some of that spending is “almost an insurance policy,” Powell said: “We’re going to build pipelines we hope we never use.”
他说：“如果仅从经济角度来看，这似乎没什么道理，但随着全球地缘政治紧张局势升级，冗余的必要性意味着这‘完全合乎逻辑’。”鲍威尔还预计，在人工智能、能源和国防交叉领域，支出将进一步增加。“它们现在基本上是一回事，”他说。
Through “a solely economic lens, that would not make much sense,” he said, but the need for redundancy as global geopolitical tensions rise means it makes “all the sense in the world.”Powell also expects more spending where AI, energy, and defense overlap. “They’re all kind of the same thing now,” he said.
退一步看，贝莱德全球基础设施合作伙伴是阿布扎比主权财富基金L’IMAD、国家石油公司ADNOC和新加坡淡马锡控股于五月宣布的300亿美元基础设施合作伙伴关系的一部分。
Step Back BlackRock’s Global Infrastructure Partners is part of a $30 billion infrastructure partnership with Abu Dhabi sovereign wealth fund L’IMAD, national oil company ADNOC, and Singapore’s Temasek, announced in May.
这家资产管理公司是众多被阿布扎比金融中心ADGM吸引的全球企业之一，其吸引力在于靠近ADIA和Mubadala等主权财富基金、家族办公室，以及该地区对私募信贷日益增长的需求。海湾地区的资本正以创纪录的速度流出：根据Global SWF的数据，2026年上半年，该地区主权财富基金在108笔交易中投资了539亿美元，创下历史新高。
The asset manager is among a growing number of global firms in Abu Dhabi’s financial center, ADGM, drawn by proximity to sovereign wealth funds like ADIA and Mubadala, family offices, and the region’s expanding appetite for private credit. Gulf capital is still flowing out at a record pace: the region’s sovereign wealth funds invested $53.9 billion across 108 transactions in the first half of 2026, an all-time high according to Global SWF.
值得关注的是，新加坡淡马锡控股将于明年年初在海湾地区开设其首个办事处，加入不断扩大的全球投资者名单，这些投资者尽管冲突持续，仍在向该地区扩张。
Notable Singapore’s Temasek will open its first offices in the Gulf early next year, joining a growing list of global investors expanding into the region despite ongoing conflict.
据彭博社报道，OpenAI正与贝莱德及阿联酋基金（包括阿布扎比的MGX）进行谈判，拟融资高达300亿美元。
OpenAI is in talks with BlackRock and UAE funds, including Abu Dhabi’s MGX, raise as much as $30 billion Bloomberg reported.