Abu Dhabi Investment Authority

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Abu Dhabi Investment Authority

logo
legal form Sovereign wealth fund
founding March 1976
Seat Abu Dhabi , United Arab EmiratesUnited Arab EmiratesUnited Arab Emirates 
management Sheikh Hamed bin Zayed Al Nahyan ( CEO )
Number of employees approx. 1700
Branch Investments , equity stakes
Website www.adia.ae
As of December 31, 2015

The Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund of the Emirate of Abu Dhabi , the largest of the seven emirates of the United Arab Emirates (UAE). The task of the ADIA consists of a. in preparing the United Arab Emirates for the time after the depletion of oil and gas reserves (see global oil production maximum ) . To this end, the fund is increasingly focusing on the service and technology sector. ADIA was considered the largest sovereign wealth fund in the world for a number of years.

The sovereign wealth fund made the headlines. On November 27, 2007, when he announced the acquisition of 4.9% of the shares in Citigroup, which had been weakened by the financial crisis from 2007 onwards , for approx. 7.5 billion US dollars .

Assets Under Management

The assets under management (AUM) was in 2008 to 875 billion US dollars estimated in 2010 to 625 billion US dollars, which since its inception in March 1976 invested promote capital again from 500 to 950 billion dollars. According to the company, most of the investments are going to North America.

history

In 1967 the Emirate of Abu Dhabi created the Financial Investment Board as part of the Abu Dhabi Ministry of Finance. In 1976, Sheikh Zayid bin Sultan Al Nahyan , the founder of the UAE and ruler of the Emirate of Abu Dhabi, decided to replace the Financial Investment Board with an organization that operated independently of the government. Therefore, the Abu Dhabi Investment Authority was founded in March 1976 .

In 2006, the Abu Dhabi Investment Council (ADIC) was founded parallel to the ADIA. In addition to the then Abu Dhabi Investment Company (now Invest AD ; founded in February 1977 as the first Abu Dhabi investment company) and a. the domestic real estate of ADIA was brought in. The ADIC is significantly smaller than the ADIA and is sometimes called ADIA II . ADIC acquired 90% of the Chrysler Building in New York City in 2008 .

In December 2016, ADIA sold 15 Ibis hotels to the French hotel group Accor for US $ 200 million .

structure

ADIA is one hundred percent owned by the government of the Emirate of Abu Dhabi . Sheikh Hamed bin Zayed Al Nahyan is Managing Director of ADIA and Sheikh Chalifa bin Zayed Al Nahyan is Chairman of the Board of Directors .

In 2015 ADIA employed around 1700 people from over 60 nations worldwide, including 26% from the UAE, 27% from Europe, 25% from Asia and 13% from North America.

The European real estate investment arm of ADIA is in Luxembourg seated Tamweelview European Holdings SA , the capital of the surgically-active Freo Group is. From 2015 to 2017 the Mall of Switzerland , a leisure and shopping center with an investment volume of 450 million francs in Ebikon near Lucerne , was realized through this .

See also

Other sovereign wealth funds in Abu Dhabi are:

Web links

Individual evidence

  1. ^ Abu Dhabi Investment Authority . Sovereign Wealth Fund Institute website, accessed September 20, 2016.
  2. ↑ See among others: Financial Times Deutschland (2008; see below ), Handelsblatt (2011) , Manager Magazin (2011) , finews.ch (2012) . From June 2011 it was reported that the Norwegian pension fund was the new largest sovereign wealth fund in the world before ADIA (e.g. Austrian Chamber of Commerce ( Memento from January 14, 2013 in the web archive archive.today )), this has been established in the business media since 2013 at the latest ( Neue Zürcher Zeitung (2013) , Handelsblatt (2013) , Wirtschafts-Blatt (2014) ( Memento from January 27, 2014 in the Internet Archive ) etc.).
  3. ^ Heiko Metzger, Jennifer Tiede: The largest sovereign wealth funds in the world ( Memento from August 23, 2008 in the Internet Archive ). In: Financial Times Deutschland , August 20, 2008.
  4. ^ Abu Dhabi Investment Authority . Sovereign Wealth Fund Institute website, accessed September 20, 2016.
  5. ↑ Portfolio Overview . ADIA website, November 2012.
  6. ^ Alberto Quadrio Curzio , Valeria Miceli: Sovereign Wealth Funds. A Complete Guide to State-Owned Investment Funds . Harriman House, Petersfield 2010, ISBN 978-1-90665-996-7 , pp. 1975 ff. (English).
  7. ↑ a b Gawdat Bahgat : The Abu Dhabi Investment Authority . In: ders .: Sovereign Wealth Funds in the Gulf: An assessment . Kuwait Program on Development, Governance and Globalization in the Gulf States, No. 16, July 2011, p. 31 ff. (English; PDF; 608 kB ).
  8. ^ Abu Dhabi Investment Council . Sovereign Wealth Fund Institute website, accessed September 20, 2016.
  9. ↑ Charles V. Bagli: Abu Dhabi Buys 90% Stake in Chrysler Building . In: New York Times , July 10, 2008, accessed September 20, 2016.
  10. ^ Larry Schlesinger: Accor snaps up $ 200m portfolio from Abu Dhabi Investment Authority. In: AFR Weekend. December 22, 2016, accessed February 10, 2017 .
  11. ^ Board of Directors. In: www.adia.ae. Retrieved September 20, 2016 .
  12. ↑ 2015 Review . Abu Dhabi Investment Authority, accessed on September 20, 2016 (PDF; 3.4 MB).
  13. ↑ Michael Soukup: Liquid gold becomes a superfluous shopping center . In: Tages-Anzeiger , June 5, 2014.