The Abu Dhabi Investment Council (Arabic: مجلس أبوظبي للاستثمار; ADIC or the "Council") is one of the investment arms of the government of Abu Dhabi. It started operations in April 2007, as a spin-off of the Abu Dhabi Investment Authority (ADIA). ADIC is responsible for investing the government's surplus, targeting positive capital returns through diversified asset classes and active investments.[2][3][4] In March 2018, Abu Dhabi Executive Council issued a law reorganising ADIC under the ownership of Mubadala.[5][6]
The investment strategy the council is to deliver superior long-term risk-adjusted returns while preserving capital. Although the council invests globally, there is a strong focus of investing in Abu Dhabi's economy. Some of its significant past investments have included:[10][11][12]
Notably in 2008, the Council acquired 90% ownership of New York's landmark Chrysler Building.[13][14]
Business functions
Active Investment Strategies
The active investment strategies department aims to generate superior risk adjusted returns by investing in hedge funds and similar active trading mandates globally.[15]
Direct Investments
The direct investments department focuses on investing directly in listed and unlisted companies across the globe, with a special emphasis on the Middle East and North Africa. It is also responsible for monitoring and optimizing the value of the council's legacy portfolio.[16]
Equities and Fixed Income
The equities and fixed income department manages listed portfolios that include global, regional and emerging market equities; and fixed income securities that include sovereign and global inflation-linked securities. [17]
Global Special Situations
The Special Situations Unit invests in one-off opportunities that may not fit in any of the council's asset classifications yet generate a higher return than other asset classes. These investments are placed both directly and through managed funds.[18]
Infrastructure Investments
The Infrastructure Investments Department is responsible for building a portfolio of global infrastructure investments and contributing to the growth of the local economy through participation in local developments. Its investments target large-scale public systems including transportation, communication, utilities and power grids. The investments are primarily made by externally managed funds, but also includes the possibility of co-investments in infrastructure projects.[19]
Private Equity
The private equity department places funds in global private equity markets and invests directly primarily alongside its managers.[20]
Board of directors
The board of directors is the highest authority within the council and is composed of a chairman, managing director and other board members, all of whom are senior government officials appointed by decree from the ruler of Abu Dhabi.[21]