UAE President restructures board of Abu Dhabi wealth fund ADIA

UAE President and Abu Dhabi ruler Sheikh Khalifa bin Zayed Al Nahyan has issued a decree reshuffling the board of Abu Dhabi Investment Authority (ADIA), official news agency WAM reported.

ADIA, one of the world’s richest sovereign wealth funds, is chaired by Sheikh Khalifa.

Under the decree, the members of the board include: Sheikh Mohamed bin Zayed Al Nahyan – who will serve as deputy chairman of the board; Sheikh Hamed bin Zayed Al Nahyan – who will serve as the managing director; Sheikh Mansour bin Zayed Al Nahyan; Sheikh Mohammed bin Khalifa Al Nahyan; Mohammed Habroush Al Suwaidi; and Khalil Mohammed Sharif Al Fulazi.

ADIA, which invests across numerous asset classes globally, does not disclose the total size of its assets. However, the Sovereign Wealth Fund Institute estimates the fund to manage assets worth about $828bn, making it the second largest in the world, after Norway’s Government Pension Fund.

Last year, the Abu Dhabi fund also confirmed plans to expand further into Asia by opening an office in Hong Kong.

The office is ADIA’s first international office after it shut down its London base in 2015.

In August last year, ADIA also appointed Garry Beaton – from Ashmore Group – to the newly created role of global head of operations.

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