Abu Dhabi will consolidate AUM of ADQ into its new SWF, L’IMAD Holding, to scale-up the Emirati capital’s investment potential and diversified asset base.
L’IMAD’s Ascendance
L’IMAD Holding was launched last year.
Sheikh Khaled bin Mohamed, the Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council, was appointed to lead as chairman whilst Jassem Al-Zaabi, chairman of the Abu Dhabi Department of Finance and vice chairman of the UAE Central Bank was appointed its managing director and chief executive this month.
Expanded Asset Class
L’IMAD’s portfolio now includes an expanded asset class, including over 25 investment companies, platforms, in addition to 250 group subsidiaries. TAQA, Modon Properties, Etihad Airways, PureHealth, Etihad Rail, Wio Bank, AD Ports, McLaren, and Louis Dreyfus make-up the diversified portfolio.
Implication for Subsidiaries
Abu Dhabi now has a single and larger sovereign investment platform for managing financial assets.
In turn, L’IMAD can deploy capital more efficiently, reduce overlapping structures, whilst optimising financing across sectors.
The latest takeover puts the L’IMAD in a strong position for capital deployment especially in banking, under Wio Bank, and energy (TAQA, Adnoc)
The Supreme Council for Financial and Economic Affairs (SCFEA) oversees the principal sovereign investment funds of the central government, including ADIA, Mubadala Investment Company, and L’IMAD.
The SCFEA also oversees Abu Dhabi’s national oil company: ADNOC.
Stay Up to Date with the Latest Updates at Finance ME!
Analysis: IFC Oman is Carving a Niche in High-Growth Financial Sectors
Property Finder Receives $170M Mubadala Equity Funding and UAE SWF Interest
Saudi Red Sea Global Establishes New Sustainability Standards
