Abu Dhabi Investment Authority

7 Stories

Sheik Who Ran $650B Fund Found Dead

Power fight looms after Abu Dhabi royal dies in glider crash

(Newser) - The body of the Abu Dhabi royal who oversaw the world's biggest sovereign wealth fund has been pulled out of a Moroccan lake four days after his glider vanished. Sheik Ahmed bin Zayed al-Nahyan, head of the Abu Dhabi Investment Authority and younger brother of the emirate's ruler, was ranked... More »

Bailout Czar Kashkari Joins World's Big Money Elite

After brisk rise through Treasury, 35-year-old has purse to rival largest sovereign funds

(Newser) - A behind-the-scenes player at the Treasury Department just weeks ago, 35-year-old Neel Kashkari’s financial heft as the agency’s bailout czar puts him on par with the heads of sovereign wealth funds, Politico reports. The self-described “free-market Republican” enjoyed a meteoric rise through the department, where he was... More »

Weak Dollar Scaring Off Foreign Funds

US policy has big China, Gulf spenders looking to divest

(Newser) - With the dollar declining and US economic outlook uncertain, some large sovereign wealth funds are looking to cut down on greenbacks, the Financial Times reports. One such Persian Gulf fund has cut its dollar-denominated investments from 80% to 60%, and China’s State Administration of Foreign Exchange is aggressively exploring... More »

Petrodollars Snap Up Americana

Foreigners 'recycle' bucks with trophy buys like Chrysler Building

(Newser) - Foreign investors flush with dollars from the global commodities boom are using those greenbacks to buy flashy American properties, the New York Times reports. The government of Abu Dhabi bought a 75% stake in the Chrysler building Tuesday. Other recent "trophy" buys have included Donald Trump's Palm Beach mansion... More »

Spending Spree Puts Abu Dhabi Under Spotlight

After US grabs, officials focus on secretive sovereign wealth fund

(Newser) - When Abu Dhabi's investment arm poured $7.5 billion into Citigroup, to bail out America's biggest bank, the move didn't escape notice in Washington. The world’s biggest sovereign wealth fund has been flexing its muscle, making increasingly aggressive investments  in foreign interests, the New York Times reports. And though... More »

Saudi Prince, Chinese Bank to Back Citigroup

Foundering US giant will get billions from foreign investors

(Newser) - A Saudi prince and one of China's government banks are expected to invest billions in Citigroup, the Wall Street Journal reports today. The China Development Bank is expected to pump in $2 billion, sources said; the amount billionaire Prince Alwaleed bin Talal would front is yet to be determined, but... More »

Sky-High Oil Will Reshape World Power, Dent US Clout

Power shifts as global economies change

(Newser) - The surging price of oil from $10 a barrel a decade ago to a record $100 today is remaking the global economy and altering the balance of power across the world, according to the Wall Street Journal. If oil prices continue to climb, as many experts predict, US political power... More »

7 Stories