DUBAI, March 1 (Reuters) - Abu Dhabi's state holding company
ADQ is worth $110 billion, sovereign wealth fund tracker Global
SWF said, the first publicly available estimate of ADQ's assets
Established in 2018, ADQ has gained prominence in the past
year as Abu Dhabi consolidated several government assets under
ADQ, which did not immediately respond to a request for
comment, owns Abu Dhabi Ports, Abu Dhabi Airport and bourse
It has also built up a portfolio of food and agriculture
businesses and last year agreed to acquire an indirect 45%
equity stake in commodities trader Louis Dreyfus Co.
Global SWF said on Monday that ADQ, the third-largest
sovereign fund in Abu Dhabi, had $110 billion in assets under
management, most of them domestic.
Oil-rich Abu Dhabi manages more than $1 trillion in
sovereign wealth capital and is the world's largest employer of
sovereign wealth fund executives, the report said.
Abu Dhabi's largest fund is the Abu Dhabi Investment
Authority (ADIA), with $700 billion in assets under management,
based on Global SWF estimates. State investor Mubadala manages
more than $230 billion in assets.
After the 2014-2015 oil price crash, Abu Dhabi embarked on a
consolidation strategy, which among other things resulted in
Mubadala absorbing the International Petroleum Investment
Company and Abu Dhabi Investment Council.
"On paper, the strategies and focus of ADIA, Mubadala and
ADQ could not be more different. ADIA is forbidden from
investing domestically; ADQ is meant to invest only
domestically, and Mubadala is somewhere in the middle," Global
"The reality is that all three SWFs can very well collide as
co-investors and competitors ... the dynamics between the three
SWFs will surely be interesting in the years to come," it said.
Mubadala and ADIA declined to comment.
(Reporting by Davide Barbuscia; Editing by Jane Merriman and