Abu Dhabi Investment Council Explained

Abu Dhabi Investment Council
Type:Sovereign wealth fund
Foundation:2007
Location City:Abu Dhabi
Location Country:United Arab Emirates
Industry:Institutional investor
Num Employees:199 (2011)
Parent:Mubadala Investment Company[1]

The Abu Dhabi Investment Council (; ADIC or the "Council") is one of the investment arms of the government of Abu Dhabi. It started operations in April 2007, as a spin-off of the Abu Dhabi Investment Authority (ADIA). ADIC is responsible for investing the government's surplus, targeting positive capital returns through diversified asset classes and active investments.[2] [3] [4] In March 2018, Abu Dhabi Executive Council issued a law reorganising ADIC under the ownership of Mubadala.[5] [6]

History

The Abu Dhabi Investment Council was splintered off from ADIA in 2007 and took over all local subsidiaries previously owned by ADIA including Abu Dhabi Commercial Bank, National Bank of Abu Dhabi and Abu Dhabi Investment Company (Invest AD).[7] Since 2013 the council has been based at Al Bahr Towers.[8] [9] In March 2018, Abu Dhabi Executive Council issued a law reorganising ADIC under the ownership of Mubadala.

Investment strategy

The investment strategy the council is to deliver superior long-term risk-adjusted returns while preserving capital. Although the council invests globally, there is a strong focus of investing in Abu Dhabi's economy. Some of its significant past investments have included:[10] [11] [12]

Notably in 2008, the Council acquired 90% ownership of New York's landmark Chrysler Building.[13] [14]

Business functions

Active Investment Strategies

The active investment strategies department aims to generate superior risk adjusted returns by investing in hedge funds and similar active trading mandates globally.[15]

Direct Investments

The direct investments department focuses on investing directly in listed and unlisted companies across the globe, with a special emphasis on the Middle East and North Africa. It is also responsible for monitoring and optimizing the value of the council's legacy portfolio.[16]

Equities and Fixed Income

The equities and fixed income department manages listed portfolios that include global, regional and emerging market equities; and fixed income securities that include sovereign and global inflation-linked securities. [17]

Global Special Situations

The Special Situations Unit invests in one-off opportunities that may not fit in any of the council's asset classifications yet generate a higher return than other asset classes. These investments are placed both directly and through managed funds.[18]

Infrastructure Investments

The Infrastructure Investments Department is responsible for building a portfolio of global infrastructure investments and contributing to the growth of the local economy through participation in local developments. Its investments target large-scale public systems including transportation, communication, utilities and power grids. The investments are primarily made by externally managed funds, but also includes the possibility of co-investments in infrastructure projects.[19]

Private Equity

The private equity department places funds in global private equity markets and invests directly primarily alongside its managers.[20]

Board of directors

The board of directors is the highest authority within the council and is composed of a chairman, managing director and other board members, all of whom are senior government officials appointed by decree from the ruler of Abu Dhabi.[21]

See also

External links

Notes and References

  1. Web site: Kassem . Mahmoud . Abu Dhabi Investment Council to join forces with Mubadala . The National . 21 March 2018 . 22 October 2023.
  2. Web site: History . https://web.archive.org/web/20090827220616/http://www.adcouncil.ae/AboutUs/History/tabid/92/Default.aspx . dead . August 27, 2009 . Adcouncil.ae . August 23, 2013 .
  3. https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=53306153 Abu Dhabi Investment Council: Private Company Information
  4. Web site: Al Bahr Towers. How can a unique approach to sun shading reduce energy use? . Arup . 22 October 2023.
  5. Web site: Abu Dhabi Executive Council . 30 April 2018 . Government of Abu Dhabi - The Official Gazette . Government of Abu Dhabi.
  6. Web site: 21 March 2018 . WAM - UAE President issues law restructuring Abu Dhabi Investment Council . Emirates News Agency - WAM.
  7. Web site: Abu Dhabi Investment Council | Sovereign Wealth Fund Institute . Swfinstitute.org . February 24, 1977 . August 23, 2013.
  8. Web site: ADIC Towers Abu Dhabi designed by Aedas. https://web.archive.org/web/20110709014902/http://desmena.com/?p=1289. dead. July 9, 2011. desMena. August 23, 2013.
  9. Book: Oborn . Peter . Al Bahr Towers: The Abu Dhabi Investment Council Headquarters . 2014 . Wiley . 978-1-118-79333-6.
  10. Web site: Investment Strategy . Adcouncil.ae . August 23, 2013 . https://web.archive.org/web/20130731191820/http://www.adcouncil.ae/AboutUs/InvestmentStrategy/tabid/63/Default.aspx . July 31, 2013 . dead . mdy-all .
  11. http://www.sovereignwealthcenter.com/fund/2/Abu-Dhabi-Investment-Council.html#.Waf2trIjGpo Abu-Dhabi-Investment-Council
  12. https://www.zawya.com/mena/en/company/Abu_Dhabi_Investment_Council-1005320/ Abu Dhabi Investment Council
  13. News: Charles V. . Bagli . July 10, 2008 . Abu Dhabi Buys 90% Stake in Chrysler Building . The New York Times . January 14, 2017.
  14. News: Alex . Frangos . July 10, 2008 . Abu Dhabi Fund Acquires Most of Chrysler Building . The Wall Street Journal . January 14, 2017.
  15. Web site: Active Investment Strategies . Adcouncil.ae . August 23, 2013 . https://web.archive.org/web/20130811160826/http://www.adcouncil.ae/BusinessFunctions/ActiveInvestmentStrategies/tabid/71/Default.aspx . August 11, 2013 . dead . mdy-all .
  16. Web site: Direct Investments . Adcouncil.ae . August 23, 2013 . https://web.archive.org/web/20130805152442/http://www.adcouncil.ae/BusinessFunctions/DirectInvestments/tabid/67/Default.aspx . August 5, 2013 . dead . mdy-all .
  17. Web site: Equities and Fixed Income . dead . https://web.archive.org/web/20130813171531/http://www.adcouncil.ae/BusinessFunctions/EquitiesandFixedIncome/tabid/70/Default.aspx . August 13, 2013 . August 23, 2013 . Adcouncil.ae . mdy-all.
  18. Web site: Global Special Situations . Adcouncil.ae . August 23, 2013 . https://web.archive.org/web/20130728160613/http://www.adcouncil.ae/BusinessFunctions/GlobalSpecialSituations/tabid/91/Default.aspx . July 28, 2013 . dead . mdy-all .
  19. Web site: Infrastructure Investments . Adcouncil.ae . August 23, 2013 . https://web.archive.org/web/20130813171533/http://www.adcouncil.ae/BusinessFunctions/InfrastructureInvestments/tabid/69/Default.aspx . August 13, 2013 . dead . mdy-all .
  20. Web site: Private Equity . Adcouncil.ae . August 23, 2013 . https://web.archive.org/web/20130814125724/http://www.adcouncil.ae/BusinessFunctions/PrivateEquity/tabid/66/Default.aspx . August 14, 2013 . dead . mdy-all .
  21. Web site: Board of Directors. 2015-05-11. https://web.archive.org/web/20150511042740/http://www.adcouncil.ae/AboutUs/BoardofDirectors/tabid/57/Default.aspx. 2015-05-11.

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