Abu Dhabi’s International Holding Company has confirmed Fount Trust as its ultimate owner above Royal Group Holding LLC following an earlier restructuring, as one of the Middle East’s largest investment companies sets out its long-term ownership structure.
The restructure does not change IHC’s ultimate beneficial ownership, operations, strategy or business activities, the company said on Monday, and Royal Group continues to exist and operate.
Under the new structure, Pal Group of Companies remains the majority shareholder of IHC, while Royal Group remains the majority shareholder of Pal Group. Fount Trust now sits above Royal Group as the ultimate parent.
The change alters the legal ownership structure above Royal Group but does not change the person or people who ultimately own or control IHC, the company said, while not identifying the ultimate beneficial owner. IHC's chairman remains Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser.
The move effectively creates a long-term ownership framework above one of the Middle East’s largest listed investment groups, designed to provide continuity across generations without changing who ultimately controls the business.
“Our responsibility is to build an institution capable of creating value over generations,” said Syed Shueb, chief executive of IHC.
“That requires clear responsibilities and an ownership framework that can endure as people and circumstances change. The establishment of Fount Trust provides a framework for long-term stewardship, while Royal Group continues to operate and fulfil its role within the ownership structure.”
What is Fount Trust?
Fount Trust, founded in 2025, has previously appeared in financial disclosures by companies within the wider IHC group.
Two Point Zero Group, formerly Multiply Group, identified Fount Trust as its ultimate parent in its financial statements for last year. The filing described Fount Trust as “formerly Royal Group Holding LLC”.
Other companies in the group, including Palms Sports and Emirates Stallions Group, have also identified Fount Trust as their ultimate parent in recent financial statements.
IHC said the restructure was intended to provide continuity of ownership and long-term stewardship across generations, without changing the ultimate beneficial owner.
It added that an enduring ownership framework can support “patient investment, durable partnerships and the development of capabilities over time”, while maintaining alignment of ownership interests.
Rapid expansion
IHC has grown rapidly over the past several years through acquisitions and the expansion of its portfolio in the UAE and overseas.
The company has a market capitalisation of about Dh840 billion ($229 billion) and more than 1,300 subsidiaries in the technology, infrastructure, financial services and consumer sectors.
IHC said the ownership restructuring would not affect its governance. It continues to be governed by its board and managed by its executive team, and remains subject to the reporting, disclosure and corporate governance requirements applying to an ADX-listed company.
