Abu Dhabi has announced the formation of the board for its newly established sovereign investment platform, L’IMAD Holding Company, as the emirate accelerates its strategy to spur economic growth and broaden revenue streams, the Abu Dhabi Media Office confirmed on Monday.
According to regulatory filings, L’IMAD was among the Gulf investors backing Paramount-Skydance’s high-profile USD108 billion bid for Warner Bros Discovery in December, alongside Saudi Arabia’s Public Investment Fund and the Qatar Investment Authority.
The board is chaired by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and comprises a number of senior officials from across the emirate.
The announcement represents the first public release of information on L’IMAD, although details on the scale of its assets under management have not yet been disclosed.
In a recent move, the platform acquired an 84.76 per cent stake in Modon Holding PSC, previously jointly owned by International Holding Company and Abu Dhabi Development Holding Company.
L’IMAD will focus on developing and managing a diversified portfolio of assets and projects across key sectors in the UAE and international markets, including infrastructure and real estate, financial services, and asset management.
The entity becomes Abu Dhabi’s fourth sovereign investment platform, joining the Abu Dhabi Investment Authority, Mubadala Investment Company and Abu Dhabi Development Holding Company (ADQ).
