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Abu Dhabi has consolidated its sovereign wealth structure by placing ADQ under the control of L'imad Holding, creating a larger state-backed investment platform chaired by Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan. The move brings assets worth an estimated USD 300 billion under L'imad, including stakes in aviation, utilities, ports, and global brands. Previously chaired by Sheikh Tahnoun bin Zayed, ADQ managed about USD 263 billion. The restructuring reflects a broader shift in economic leadership within the emirate.
Abu Dhabi has carried out a major reshuffle of its sovereign wealth structure, with L'imad Holding assuming control of fellow state investor ADQ. The move brings two key government-backed investment platforms under a single umbrella and places a large pool of strategic assets directly under the oversight of the emirate's crown prince. Advertisement
L'imad Holding, which entered the global spotlight late last year through its participation in a USD 108 billion bid for Warner Bros led by Paramount and Skydance, has now formally absorbed ADQ following a resolution by the Supreme Council for Financial and Economic Affairs. The consolidation significantly alters the balance of Abu Dhabi's investment ecosystem.
The merged sovereign fund is chaired by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the eldest son of UAE President Sheikh Mohammed bin Zayed Al Nahyan. Sheikh Khaled, who was named crown prince in 2023, now directly oversees state-linked assets spanning aviation, utilities, logistics, and ports, including Etihad Airways and major infrastructure holdings.
Before the consolidation, ADQ managed assets valued at around USD 263 billion and was chaired by Sheikh Tahnoun bin Zayed Al Nahyan, the UAE president's brother and the country's national security adviser. Sheikh Tahnoun continues to chair the Abu Dhabi Investment Authority, the emirate's largest sovereign fund, which Global SWF estimates manages close to USD 1.2 trillion in assets.
According to Global SWF Managing Director Diego Lopez, the restructuring elevates Sheikh Khaled's role within the ruling family's economic leadership. Lopez estimates the combined entity now manages assets of roughly USD 300 billion, with investments or stakes in companies such as power and utilities firm TAQA, McLaren Racing, agricultural trader Louis Dreyfus, and Abu Dhabi Ports.
The restructuring comes at a time when Abu Dhabi remains the financial anchor of the UAE, holding most of the country's oil reserves and hosting sovereign wealth funds that together manage more than USD 1.8 trillion. Since the federation's formation in 1971, the presidency has remained with Abu Dhabi, with the crown prince traditionally positioned as the successor.
In recent years, Sheikh Khaled has taken on expanding responsibilities, including chairing the Abu Dhabi Executive Council and serving on the boards of ADNOC and the Abu Dhabi Investment Authority. The latest move further consolidates his influence across the emirate's economic and investment strategy.
As part of related changes, Mohammed Hassan Alsuwaidi stepped down from his role at ADQ earlier in the past week to take charge of Lunate, an Abu Dhabi-based alternative investment firm. The transition reflects broader shifts in leadership roles within the emirate's investment institutions.
L'imad's board includes Chief Executive Jassem Al Zaabi and Mubadala Group CEO Khaldoon Al Mubarak. Mubadala, Abu Dhabi's second-largest sovereign fund, remains chaired by Sheikh Mansour bin Zayed Al Nahyan, who also owns Manchester City Football Club.
Beyond global investments, L'imad has already built a domestic footprint. Late last year, it acquired a 42.54% stake in real estate developer Modon from International Holding Company and an additional 7.5% stake from Alpha Dhabi, strengthening its presence in Abu Dhabi's property sector.
The Abu Dhabi media office stated that bringing ADQ under L'imad is intended to form a sovereign investment platform with a diversified asset base, aligned with the government's approach to sustainable investment and long-term economic development. ADQ did not issue a public comment following the announcement.
Source Reuters
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