ADIA History and Negative Press

Goals

To understand history, background, and any negative press coverage on ADIA.

Early Findings

HISTORY

  • ADIA was established in 1976 by the Government of Abu Dhabi as an independent and public investment institution.
  • The institution is headquartered in Abu Dhabi, United Arab Emirates.
  • At inception, Equity & Bonds, Treasury, Finance & Administration, Real Estate, Local & Arab Investments departments were created.
  • Currently, ADIA now “manages a diversified global investment portfolio across more than two dozen asset classes and sub-categories.”
  • The institution invests directly in global financial markets through a network of carefully selected external managers, alongside trusted partners.
  • ADIA “does not actively seek to manage the public companies in which it invests.”
  • The insitution currently has employees from more than 65 nationalities.

MISSION

  • The mission of the institution is “to sustain the long-term prosperity of Abu Dhabi by prudently growing capital through a disciplined investment process and committed people who reflect ADIA’s cultural values.

NEGATIVE PRESS COVERAGE

  • ADIA, in a June 2008 article by Reuters, “increasingly favors passive investments such as funds that track the performance of a specific stock index over actively managed funds, which frequently fail to measure up.” The institution had halved the number of hedge funds in its portfolio.”
  • In December 2009, the Abu Dhabi Investment Authority filed a fraud claim against Citigroup.
  • An article by Reuters published in 2013, read “Abu Dhabi fund loses crisis-related arbitration against Citigroup.” In this case, Citigroup Inc (C.N) prevailed in the arbitration pursued by Abu Dhabi Investment Authority over the sovereign wealth fund’s $7.5 billion investment in 2007 to shore up the then-struggling bank during the subprime mortgage meltdown.
  • In September 2019, Atlico, a property-focused financier sponsored by ADIA defaulted on interest payments of Rs 19.97 crore, causing its liquidity position to worsen
  • In an article published by CBNC in May 2019, “ADIA had faced competition from rival buyout funds and some industry players including a consortium of Advent and Cinven, as well as U.S. private equity firm KKR & Co Inc and European fund PAI Partners.”

Proposed next steps:

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As the initial research only touched on the history, mission, and the negative press coverage on ADIA, we recommend continuing the project by including more synonyms to reveal more negative press coverage on the institution.
Alternatively, we can provide more details on the negative press coverage already found during our 1-hour research above.