- BlackRock, the world's biggest asset manager, has received a commercial licence to operate in Abu Dhabi, as the UAE capital emerges as a global hotspot for finance.
- New York-based BlackRock, which has nearly $11.5 trillion in assets under management, also plans to obtain regulatory authorisation to operate at Abu Dhabi Global Market, the emirate's international financial centre, it said on Monday.
- The Abu Dhabi Investment Authority’s (Adia) assets managed internally has grown from 55% in 2022 to 64% in 2023.
- According to the sovereign wealth fund’s 2023 Adia Review, the MSCI World Index rose 24% in 2023, with most of the gains coming in the last few months of the year as risk appetite surged.
- Abu Dhabi Catalyst Partners (ADCP), a joint venture between Mubadala Capital and Alpha Wave Global, established to promote the growth and development of Abu Dhabi Global Market (ADGM), today (November 13) announced a strategic partnership with Investindustrial, one of Europe's leading independent investment groups managing €15 billion in assets.
- Founded by the Bonomi family in 1990, Investindustrial has a long-standing reputation for driving growth in industrial and consumer businesses.
- Saudi Arabia’s Public Investment Fund (PIF) has raised SAR3.86 billion ($1.03 billion) from selling a 2% stake in telecoms firm stc Group, the sovereign wealth fund said on Thursday, as it seeks to raise funds for the Gulf country’s economic diversification programme.
- The final price for the sale of the 100 million shares was set at SAR38.6 per share, about a 6.1? discount to stc’s closing price of SAR41.1 on Wednesday, according to Reuters’ calculations.
