ADIA is estimated to have about $696 billion assets under management/iStock
by BloombergThe Abu Dhabi Investment Authority (ADIA) is preparing to sell around $2 billion of its stakes in private-equity funds, amid an increasing push toward direct investments by the sovereign wealth fund.
Large investors like ADIA often end up with a multitude of investments run by different private-equity managers, making them cumbersome to administer. The Gulf fund is following other major investors by taking direct stakes in firms—eschewing the fees and limitations of managed funds—to generate returns in a low-interest-rate environment.
Secondaries Investor reported in September 2019 that ADIA was considering selling an unspecified amount of private equity fund stakes.
According to the Sovereign Wealth Fund Institute, while ADIA doesn’t divulge its assets under management, it’s estimated to have about $696 billion, making it the third-largest sovereign wealth fund in the world.
Last year, ADIA was part of a consortium that acquired Nestle's $10 billion skincare business. Additionally, the Abu Dhabi state investor also partnered with private equity firms Advent International and Cinven to make a joint bid for Thyssenkrupp’s EUR 15 billion ($17 billion) elevator unit.
ADIA also teamed up with Cinven in its purchase of British scientific measurement and testing company LGC Group. In July 2019, the sovereign wealth fund agreed to buy a stake in Domestic & General Group, the UK appliance warranty provider owned by CVC Capital Partners.
MOST READ
INVESTMENT
India seizes Yes Bank, limits withdrawalsINVESTMENT
ING Groep plans to sell its Turkish unitINVESTMENT
SABB seeks to boost corporate lendingINVESTMENT
UBS launches new private client programINVESTMENT
Egypt plans to resume IPOs of parastatalsINVESTMENT
HSBC considering exiting from TurkeyINVESTMENT
Abu Dhabi’s Group 42 acquires BayanatINVESTMENT
Amanat considers stake in VPS HealthcareINVESTMENT
UBS investment bank job cuts reach Europe
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
