Abu Dhabi Investment Authority
From Taighde
| Abu Dhabi Investment Authority | |
|---|---|
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| Official Name: | 
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| Country: | United Arab Emirates
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| Description: | Sovereign Wealth Fund
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| Chairman: | Sheikh Khalifa bin Zayed Al Nahyan
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| CEO: | Hamid bin Zayed Al Nahyan
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| Based in: | Abu Dhabi
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| Board of Directors: | Sheikh Khalifa bin Zayed Al Nahyan
Sheikh Mansour bin Zayed Al Nahyan Sheikh Mohammed bin Zayed Al Nahyan Saeed Mubarak Rashed Al Hajeri |
| Inception: | 1976
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| Origin: | Oil
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| Assets: | $650 billion
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| Website: | http://www.adia.ae/
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| Reports | Sovereign Wealth Funds Contact and Information Report |
Abu Dhabi Investment Authority (ADIA) is a Sovereign Wealth Fund run by the government of Abu Dhabi in the United Arab Emirates. It was created in 1976 and is the largest Sovereign Wealth Fund in the world with an estimated worth of $650 to $700 billion.
In June 2006, the government created the Abu Dhabi Investment Council to focus on national and regional investments, allowing ADIA to expand internationally. ADIA's shares in the National Bank of Abu Dhabi, the Abu Dhabi Commercial Bank, and the Abu Dhabi Investment Company (ADIC) were then transferred to Abu Dhabi Investment Council.
The Government of Abu Dhabi can draw funds from the ADIA at any time to meet short-term needs. It is believed that the government has done this five times over the course of the last thirty years. It is expected that the Abu Dhabi government will request funds to fill the 2010 budget deficit. The government will also request funds from the Abu Dhabi Investment Council.
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Senior Management
Ahmad bin Zayed Al Nahyan, Managing Director of the ADIA, died on March 30, 2010. Hamid bin Zayed Al Nahyan was appointed as the incoming Managing Director on April 14 to replace Ahmad.
According to Businessweek, two of the candidates were Mansour bin Zayed Al Nahyan and Mohammed bin Khalifa Al Nahyan.[1]
Board of Directors
| Khalifa bin Zayed Al Nahyan | Chairman |
| Sultan bin Zayed Al Nahyan | Director |
| Mansour bin Zayed Al Nahyan | Director |
| Mohammed bin Zayed Al Nahyan | Director |
| Hamid bin Zayed Al Nahyan | Director and Managing Director |
| Mohammed bin Khalifa Al Nahyan | Director |
| Hamad Mohammed Al Hurr Al Suwaidi | Director |
| Jua'an Salim Al Dhaheri | Director |
| Mohammed Habroush Al Suwaidi | Director |
| Khalil Mohammed Sharif Foulathi | Director |
Senior Executives
| Hamid bin Zayed Al Nahyan | Managing Director |
| Salem Rashed Al Muhanadi | Executive Director, Finance and Administration |
| Hussein Sayegh | Executive Director, Operations |
| Mohammed Saif Al Suwaidi | Executive Director, Treasury |
| Mohammed Ahbabi | Executive Director, Internal Audit |
| Majid Salem Al Roumaisi | Executive Director, Real Estate |
| Hamad Kurdous Amri | Executive Director, Alternative Investments |
| Saeed Mubarak Al Hajeri | Executive Director, Emerging Markets |
| Ahmad Ateek Al Mazwi | Executive Director, Information Technology |
| Salem Mazouy | Executive Director, Valuation and Follow Up |
| Mohammed Hinai | Director, Finance and Administration |
| Abdulrahman Al Qumzi | Director, General Services |
| Khaled Balama | Director, Tactical Assets Allocation |
| Majed Al Rumaithi | Director, Human Resources |
| Eissa Mohammed Al Suwaidi | Director, Far East Equities |
| Mohammed bin Humoodah | Director, External Funds North America |
| Hareb Masood Al Darmaki | Director, Internal Equities Europe |
| Sheikh Mohammed bin Khalifa | Director, External Equities Europe |
| Jean Paul Villain | Senior Investment Advisor |
| Euart Glendinning | Global Communications Director/corporate affairs |
| Georges Sudarskis | Senior Investment Controller |
| Bill Schwab | Global Head of Real Estate |
Investments
ADIA takes stakes in individual companies but they also rely on external managers to manage their funds. ADIA has around 80% of its assets in the hands of external fund managers.
ADIA Investment Strategy
There are very few sectors that the ADIA have not invested in. Most of ADIA assets are held in U.S treasuries and Euro denominated bonds. Over the course of the last decade, ADIA has increased their allocation in equities. The ADIA was the 1st SWF to make a cash-infusion into a bank during the start of the 2007-2008 economic crisis with its investment in Citigroup. ADIA takes stakes in individual companies but they also rely on external managers to manage their funds. Over 75% of ADIA's assets are managed by external fund managers.
According to the ADIA, the largest region allocation has been in the United States with between 35% to 50%. Europe has up to 35% and Asia at 20%.
By Asset Class
| Neutral benchmark | Min. | Max. |
|---|---|---|
| Developed Equities | 35.00% | 45.00% |
| Emerging Market Equities | 10.00% | 20.00% |
| Small Cap Equities | 1.00% | 5.00% |
| Government Bonds | 10.00% | 20.00% |
| Credit | 5.00% | 10.00% |
| Alternative | 5.00% | 10.00% |
| Real Estate | 5.00% | 10.00% |
| Private equity | 2.00% | 8.00% |
| Infrastructure | 1.00% | 5.00% |
| Cash | 0.00% | 10.00% |
By Region
| Neutral benchmark | Min. | Max. |
|---|---|---|
| North America | 35.00% | 50.00% |
| Europe | 25.00% | 35.00% |
| Developed Asia | 10.00% | 20.00% |
| Emerging markets | 15.00% | 25.00% |
2011 restructuring
ADIA, according to media reports, restructured their management structure. Rather than splitting their assets geographically, ADIA switched to a new approach with assets being split between indexed fund and actively-managed funds.
Annual Report
The ADIA released their first annual report on March 15, 2010.
Office Locations
211 Corniche Street
Post Office Box 3600
Abu Dhabi
United Arab Emirates
Telephone: 971 2 4150000
Fax: 971 2 4151000
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