Abu Dhabi Investment Authority To Establish A Presence In Abu Dhabi Global Market
The Abu Dhabi Investment Authority (ADIA) announced its intention to establish a presence in the Abu Dhabi Global Market (ADGM), the International Financial Centre of Abu Dhabi.
ADIA is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. Since then, ADIA has been prudently investing funds on behalf of the Government of Abu Dhabi, with a focus on long-term value creation. ADIA manages a global investment portfolio that is diversified across more than two-dozen asset classes and sub-categories.
ADIA’s Managing Director Sheikh Hamed bin Zayed Al Nahyan said: “The ADGM has established itself as a leading international financial centre and an important catalyst for the continued growth of the investment community in Abu Dhabi, the UAE and the wider region. ADIA 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 centre’s continued development.”
Commenting on the development, H.E. Ahmed Al Sayegh, Chairman of Abu Dhabi Global Market, said: “ADIA 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.”
About Abu Dhabi Global Market
Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab Emirates, opened for business on 21 October 2015. Established by UAE Federal Decree as a broad-based financial centre, ADGM augments Abu Dhabi’s position as a global centre for business and finance and serves as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
ADGM’s strategy is anchored by Abu Dhabi’s key strengths including private banking, wealth management, asset management and financial innovation. Comprising three independent authorities: ADGM Courts, the Financial Services Regulatory Authority and the Registration Authority, ADGM as IFC governs the Al Maryah Island which is a designated financial free zone. It enables registered financial institutions, companies and entities to operate, innovate and success within an international regulatory framework based on Common Law. Since its inception, ADGM has been awarded the “Financial Centre of the Year (MENA)” for two consecutive years for its initiatives and contributions to the financial and capital markets industry in the region.*