Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, has been appointed as the chairman of the emirate's recently created sovereign wealth fund L'imad.
The board, which was announced by the Supreme Council for Financial and Economic Affairs, includes Jassem Al Zaabi as managing director and chief executive, the Abu Dhabi Media Office reported.
Members also include Khaldoon Al Mubarak, Ahmed Al Mazrouei, Mohamed Al Shorafa, Saif Ghobash, Waleed Al Muhairi and Kamal Almaazmi.
L’imad was established as a sovereign investment platform of the Abu Dhabi government. It is mandated to support economic growth, diversify revenue sources, and boost investment returns for the emirate.
It manages a diversified portfolio of assets and projects across sectors including infrastructure and property, financial services and asset management, advanced industries and technology, urban mobility and smart cities.
L’imad also works with local and international partners to support Abu Dhabi as a global centre for investment.
Last year, the fund acquired a significant stake in Abu Dhabi real estate company Modon Holding from IHC, the largest listed company in the UAE.
More recently, it was part of the Paramount consortium bidding to acquire Warner Bros Discovery, along with Saudi Arabia’s Public Investment Fund and the Qatar Investment Authority.
The UAE capital is home to some of the world's biggest wealth funds including the Abu Dhabi Investment Authority and Mubadala Investment Company.
