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The Abu Dhabi Investment Council (The Council) is an investment arm of the Government of Abu Dhabi. It started operations in April 2007 and is responsible for investing part of the government's surplus financial resources through a globally diversified investment strategy, targeting positive capital returns through an expansive portfolio of highly diversified asset classes and active investment management strategies.


History

The Abu Dhabi Investment Council was splintered off from the Abu Dhabi Investment Authority (ADIA) in 2007 and took over all local subsidiaries previously owned by ADIA including Abu Dhabi Commercial Bank,
National Bank of Abu Dhabi National Bank of Abu Dhabi (NBAD) ( ar, بنك أبوظبي الوطني) was a bank operating in the United Arab Emirates (UAE) until it merged with the First Gulf Bank in December 2016 to form First Abu Dhabi Bank. NBAD was the largest lender b ...
and Abu Dhabi Investment Company (Invest AD). Since Autumn 2013 the Council has been based at
Al Bahr Towers Al Bahr Towers is a development in the emirate of Abu Dhabi consisting of two 29-storey, 145m–high towers. It is located at the intersection of Al Saada and Al Salam Street in Abu Dhabi City, the capital of the United Arab Emirates, at the easter ...
.


Investment strategy

The investment strategy of the Council seeks to achieve superior risk-adjusted returns across the entire capital structure while preserving capital. Although the Council invests globally, there is a strong focus of investing in Abu Dhabi's economy. Some of its significant investments include: *
National Bank of Abu Dhabi National Bank of Abu Dhabi (NBAD) ( ar, بنك أبوظبي الوطني) was a bank operating in the United Arab Emirates (UAE) until it merged with the First Gulf Bank in December 2016 to form First Abu Dhabi Bank. NBAD was the largest lender b ...
* Abu Dhabi Commercial Bank *
Union National Bank Union National Bank (UNB) was a bank based in Abu Dhabi, United Arab Emirates, from 1982 until it merged with Abu Dhabi Commercial Bank in 2019. It was established as a Public Joint Stock Company in 1982 became one of the UAE's leading domestic ...
*
Al Hilal Bank Al Hilal Bank (Arabic: مصرف الهلال), Established in 2007, Al Hilal Bank is an Islamic bank headquartered in Abu Dhabi (UAE) offering Shari’ah compliant Retail Banking, Treasury and Wealth Management. Al Hilal Bank was acquired by A ...
*
Abu Dhabi National Insurance Company Abu Dhabi National Insurance Company PSC ( ar, شركة أبوظبي الوطنية التأمين; ADNIC) is an insurance company based in Abu Dhabi, United Arab Emirates. It is the third largest insurer in the country as of May 2015. ADNIC was ...
* Abu Dhabi Aviation Company * Abu Dhabi Investment Company (Invest AD) * Abu Dhabi National Chemicals Company Notably in 2008, the Council acquired 90% ownership of New York's landmark
Chrysler Building The Chrysler Building is an Art Deco skyscraper on the East Side of Manhattan in New York City, at the intersection of 42nd Street and Lexington Avenue in Midtown Manhattan. At , it is the tallest brick building in the world with a steel fra ...
.


Business functions


Office of the Managing Director

The Managing Director is the highest-ranking officer within the Council. He reports to the board of directors and is responsible for the operations of the Council.


Active Investment Strategies

The Active Investment Strategies Department aims to generate superior risk adjusted returns by investing in
hedge fund A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as s ...
s and similar active trading mandates across different strategies, globally. The department co-invests in individual transactions by partnering with
Hedge Funds A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as sho ...
and takes GP stakes in Hedge Funds and/or Seed Hedge Funds. Some of the global mainstream strategies include: * Relative Value Strategies * Hedged Equity Strategies * Macro Strategies * Event Driven Strategies * Systematic CTA


Direct Investments

The Direct Investments Department invests directly in listed and unlisted companies across the globe, with a particular emphasis on the MENA Region. It is focused on creating a concentrated portfolio of highly
uncorrelated In probability theory and statistics, two real-valued random variables, X, Y, are said to be uncorrelated if their covariance, \operatorname ,Y= \operatorname Y- \operatorname \operatorname /math>, is zero. If two variables are uncorrelated, ther ...
securities reflecting the broad nature of investment opportunities the Council is exposed to. In this respect, investments are considered for their intrinsic characteristics rather than within a portfolio context. In addition, it is also responsible for monitoring and optimizing the value of the Council's legacy portfolio consisting of 12 investments in local financial institutions and other prominent companies.


Equities and Fixed Income

The
Equities In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...
and Fixed Income Department manages listed portfolios concentrated in the following areas: * Equities that include Global and Regional Large Cap Equities, Emerging Market Equities and Small Cap Equities * Fixed Income that includes Sovereign, Global Inflation Linked, Credit and Emerging Debt Securities


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 Active management (also called ''active investing'') is an approach to investing. In an actively managed portfolio (finance), portfolio of investments, the investor selects the investments that make up the portfolio. Active management is often com ...
.


Infrastructure Investments

The Infrastructure Investments Department is responsible for building a portfolio of global infrastructure investments as well as contributing to the growth of the local economy through participation in local developments. Its investments target large-scale public systems that are vital to countries’ economies including transportation, communication, utilities & power and social infrastructures (i.e. schools and hospitals). Exposure to these investments is gained through externally managed funds, but also includes the possibility of co-investments in suitable infrastructure projects.


Real Estate

The
Real Estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...
Department invests in global markets through externally managed funds as well as targeted direct investments by building relationships with managers, deploying stringent selection criteria, and executing a broad diversification strategy with respect to geography, size, timing and investment philosophy.


Private Equity

The
Private Equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a t ...
Department places funds in global private equity markets and invests directly primarily alongside its managers.


Support Functions

Various functions support the investment and non-investment activities of the Council. They include: * Accounting & Financial Services providing cash management, investment accounting and reporting, and custodial services * Human Resources providing recruitment, talent management, and career development services * Information Technology providing platform, systems, solutions, and data services * General Services providing logistics and facilities support services * Management Accounts providing payroll, accounts payables, and expense management services


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. Chairman of the Board: Sheikh Mohammad Bin Zayed Al Nahyan Members of the Board: Sheikh Sultan Bin Zayed Al Nahyan Sheikh Mansour Bin Zayed Al Nahyan Sheikh Hamed Bin Zayed Al Nahyan Mohammed Bin Habroush Al Suwaidi Eissa Mohamed Al Suwaidi (managing director) Younis Haji Khoori MR SHUBHRAW PRATAP DASGUPTA (Member of Group Consultant to Sheikh Sultan Bin Zayed Al Nahyan or Board)


See also

*
Abu Dhabi Fund for Development The Abu Dhabi Fund for Development (ADFD) is a foreign aid agency established by the government of Abu Dhabi in 1971. The fund provides concessionary loans to fund economic and social development projects. The fund also invests in order to expand ...


References


External links


Abu Dhabi Investment Council
{{authority control Investment companies of the United Arab Emirates Government-owned companies of Abu Dhabi Sovereign wealth funds 2007 establishments in the United Arab Emirates Outward investment