Sovereign investors regularly announce joint investments with each other, with long-term investors, and with new strategic funds. This chapter assesses the drivers and goals of co-investment strategies employed by large funds in the GCC and Asia in their investments globally and in their regions. With more sovereign funds more focused on strategic investments globally and at home, and many new inward investment structures being created to attract and de-risk global capital, co-investment is a way to hedge risks and force recipients to add more skin in the game. Asian and GCC sovereign funds have adopted two main types of joint investment: a more traditional consortia strategy of co-investment in large projects in third countries, often in the West, and a more unique strategy of co-investment with sovereign development funds, which can include technology transfer from the development partner. GCC funds, especially the development-focused ones, have also opted for a growing number of partnerships with large corporations to benefit local development. The chapter assesses the progress so far, how such co-investment fits into development goals, and the shifts in regional and sectoral investment. With new capital flows into many sovereign funds slowing, development-oriented sovereign co-investment seems to be on the rise.