ADIA launches new funds The Abu Dhabi Investment Company (ADIC), an investment arm of the world’s largest sovereign wealth fund, the Abu Dhabi Investment Authority (ADIA), recently announced it is opening up four new funds that will operate in the Middle East and North Africa region. The move comes on the heels of a recent lull in investment activity that was spurred by the ongoing global economic downturn. The company is also rebranding itself through the adoption of a new name, Invest AD. Apart from having the world’s largest wealth fund behind it, Invest AD’s investments will focus on the region as opposed to investing in western financial institutions where the fund’s mother ship suffered huge losses after buying up large chunks of Citigroup, Blackstone and Merrill Lynch. The announcement also comes at a time when most private equity firms are still in a ‘wait-and-see’ mode, despite the market offering
