FINANCIAL NEWS

Abu Dhabi Investment Authority closes $2.1b deal

11 Nov 2010

(MENAFN) Abu Dhabi Investment Authority (ADIA), the sovereign wealth fund, announced that it has signed an agreement worth $2.1 billion to buy a minority stake in Australia’s Port of Brisbane, Reuters reported.

ADIA, through its wholly-owned subsidiary Tawreed Investments, took a 19 percent stake in the port while the remaining three funds of Global Infrastructure Partners, Industry Funds Management (IFM) and QIC Limited hold a 27 percent stake each.

The Authority has assets of $500 billion to $700 billion and holds stakes in London’s Gatwick Airport and a long-term lease on Chicago’s parking meters, among other high profile investments globally.

ADIA’s funds returned 6.5 percent on an annualized basis, over a 20-year period as of December 31, 2009. On the same basis, the fund returned 8 percent over a 30-year period, revealed the fund.

At least 46 percent of ADIA’s portfolio in 2009 was allocated to equities, with a minimum of 35 percent in developed markets and at least 10 percent in emerging markets.

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