Abu Dhabi Investment Authority’s latest transformation took shape in the depths of the pandemic, when grounded executives spent several weeks jotting ideas on white boards in the wealth fund’s high-rise headquarters.
The enforced pause in normal business helped to turbocharge ADIA’s ongoing review of its business, leading to some of the most sweeping changes ever seen at the 46-year-old, $829 billion sovereign wealth fund. Not only did ADIA overhaul its internal structure and processes, it redefined how it would take future investment decisions.
Due to its sheer size, ADIA’s choices can have an impact around the world. It is one of the biggest investors in US real estate, and its recent deals include stakes in German railcars, North American energy and Indonesia’s biggest internet firm. It’s eyeing even more opportunities in private markets.
“Competition for returns has intensified, but the entire business of investing is being transformed by technology and that is an ongoing processes that is influencing all parts of the industry. And this will continue to change and at an increasingly fast pace,” according to an emailed response from a spokesman for the fund.
“That’s why we identified the need to become more dynamic and agile, as a way to build flexibility into our organisation so that we are ready to respond to these changes,” he said.
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