The move to create L’imad Holding, the fourth major investment pillar in Abu Dhabi, reflects the emirate’s ambitions to continue diversifying its economy and generate wealth for future generations, analysts say.
The new investment vehicle launched last year has already carved out a multibillion-dollar deal and is set to help Abu Dhabi channel investment into the local economy, as well as pursue high-profile international investment.
Sovereign funds are “an economic diversifier and generate income for the future generation, and that’s the main thing for any sovereign investment vehicle”, said Faisal Hasan, head of asset management at Al Mal Capital in Dubai.
Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, was this week appointed chairman of the sovereign fund, as the emirate’s Supreme Council for Financial and Economic Affairs announced t
Continue Reading on The National UAE
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.