ADQ: Abu Dhabi’s ADQ manages $157 billion belongings: International SWF

Sovereign wealth fund tracker International SWF estimated on Monday that Abu Dhabi’s ADQ, which final week grew to become the brand new proprietor of state provider Etihad, has seen its belongings underneath administration develop to $157 billion.

The smallest of Abu Dhabi’s three fundamental sovereign wealth funds, ADQ has emerged as one of many area’s most energetic dealmakers, and International SWF instructed it may even merge in future with Mubadala Funding Firm, Abu Dhabi’s second-biggest SWF.

ADQ started in 2018 as a holding firm for presidency belongings and has been consolidating its portfolio, privatising some belongings and making strategic acquisitions to construct firms which can be leaders of their industries domestically or regionally.

The fund declined to remark. International SWF stated it first estimated ADQ’s portfolio at about $110 billion in March 2021 and its worth had remained “comparatively steady” since.

Developments because the third quarter of this 12 months have pushed the fund’s belongings underneath administration (AUM) larger, nonetheless, together with the Etihad switch final week.

A surging inventory value for utility TAQA, which ADQ offered 8.6% of to a subsidiary of Worldwide Holding Firm, pushed its AUM larger. IHC and ADQ are each chaired by Sheikh Tahnoon Bin Zayed Al Nahyan, the UAE’s nationwide safety adviser and a half-brother of UAE President Mohammed bin Zayed. International SWF stated its stake in TAQA greater than doubled in worth to $71.9 billion.