Abu Dhabi merges two sovereign wealth funds

The Abu Dhabi Investment Council is merging two of its biggest sovereign wealth funds (SWFs) to create a new investment vehicle with more than $200 billion in assets.

The Abu Dhabi Investment Council will be joined with Mubdala Investment Company, announced crown prince Sheikh Mohammed bin Zayed Al Nahyan, the emirate’s ruler.

Consolidation of sovereign wealth funds has been ongoing in Abu Dhabi with Mubadala merging with International Petroleum Investment Company in 2017.

According to the crown prince, “an investment vehicle of such scale will enhance the country’s competitive position”.

The emirate’s largest sovereign fund, the $800 billion-plus Abu Dhabi Investment Authority, will remain a separate entity.

©2018 funds global mena

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