Abu Dhabi Investment Authority
The Abu Dhabi Investment Authority (ADIA) is the largest sovereign fund in the world in terms of assets under management.
Created by Zayed bin Sultan Al Nahyan , on 24 February 1977 , ADIA is based in Abu Dhabi , the largest of the seven emirates of the UAE Federation. He is responsible for investing the oil revenues of the emirate of Abu Dhabi over the world to make them grow. ADIA is wholly owned and governed by the government of Abu Dhabi and chaired by Sheikh Khalifa bin Zayed Al Nahyan.
Although the exact amount of its assets has never been published by ADIA, the bottom would manage more than 875 billion U.S. dollars of assets Asset Management The decisions of the sovereign funds are based solely on finding a long-term profitability. Once invested, it remains passive and does not intervene in the management of undertakings which it has acquired a stake. ADIA has acquired a stake in U.S. bank Citigroup in November 2007 , at the beginning of the subprime crisis , before wishing to leave them in late 2009 . ADIA is also invested in equity funds as Ares Management, Apollo Management, or the Carlyle Group . In a letter dated March 2008 and sent to several States, the government of Abu Dhabi said several following : Investment Objective
Portfolio Composition
Portfolio allocation by asset class Minimum Max Actions developed 35% 45% Actions emerging 10% 20% SME 1% 5% Bonds 10% 20% Credit 5% 10% AC 5% 10% Real Estate 5% 10% Capital investment 2% 8% Infrastructure 1% 5% Liquid 0% 10% Portfolio Distribution by Region Minimum Max North America 35% 50% Europe 25% 35% Developed Asia 10% 20% Emerging Markets 15% 25% Notable Investments
Governance and opacity
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