Rapid-fire deals spanning the globe are putting a months-old Abu Dhabi sovereign fund on the map.
A convertible debt deal on Friday by U.S. electric scooter and bike startup Lime marked the first known investment by Abu Dhabi Growth Fund, and an agreement with Indonesia followed the day after.
Based in a city that’s among the few globally to manage over $1 trillion in sovereign wealth capital, the emirate’s new fund was set up in July with a “unique risk profile that complements the existing Abu Dhabi sovereign wealth funds,” according to its website.
Besides ADG, Abu Dhabi is also the home of the Abu Dhabi Investment Authority, with an estimated $829 billion in assets, and $243 billion Mubadala Investment Co. In addition to the two biggest funds, the government in 2018 set up ADQ, which took custody of some of the emirate’s biggest assets.
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