Abu Dhabi has decided to consolidate the assets held by Abu Dhabi Developmental Holding Group (ADQ) under its newly formed sovereign investment entity, L’IMAD.
According to a statement issued on Friday by the Abu Dhabi Media Office, the Supreme Council for Financial and Economic Affairs — which oversees public policy related to finance, investment, the economy, energy and natural resources — approved the consolidation. The move is intended to establish a sovereign investment platform with a broad and diversified asset base.
The new entity’s portfolio will span operational, developmental, industrial and financial sectors, bringing together more than 25 investment companies and platforms, along with over 250 subsidiaries. Core assets are set to include TAQA, Modon Properties, Etihad Airways, PureHealth, Etihad Rail, Wio Bank, Abu Dhabi Ports, McLaren and Louis Dreyfus.
The restructuring follows an announcement made on Thursday confirming that Mohamed Hassan Alsuwaidi, chief executive of ADQ — which manages assets worth about USD 263B — has been appointed executive chairman and managing partner of Lunate. Lunate is an Abu Dhabi-based alternative asset manager with approximately USD 115B in assets under management and a primary focus on private markets.
L’IMAD becomes Abu Dhabi’s fourth sovereign wealth fund and is chaired by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council.
