Abu Dhabi sovereign wealth fund, the Abu Dhabi Investment Authority, has announced its intention to establish a presence in Abu Dhabi Global Market (ADGM), the low-tax financial services hub.
The Authority is an independent investment institution established by the Government of Abu Dhabi in 1976 to invest funds on behalf of the emirate. It currently manages a global investment portfolio diversified across more than two-dozen asset classes and sub-categories with a focus on long-term value creation.
The Authority's Managing Director, Sheikh Hamed bin Zayed Al Nahyan, said: "The ADGM has established itself as a leading international financial center and an important catalyst for the continued growth of the investment community in Abu Dhabi, the United Arab Emirates, and the wider region. The Abu Dhabi Investment Authority is pleased to join an increasing number of significant global institutions that have established a presence at the ADGM and looks forward to contributing to the center's continued development."
Welcoming the Authority's announcement, Ahmed Al Sayegh, Chairman of ADGM, said: "The Abu Dhabi Investment Authority has been a highly regarded and globally recognised investment institution for decades and plays a vital role in the Abu Dhabi economy and beyond. We are delighted to welcome them to ADGM and look forward to welcoming other new partners from local, regional, and global jurisdictions as we continue to build our platform."
By Courtesy of Lowtax.net