Adia headquarters in Abu Dhabi. The proportion of Adia’s total assets managed internally grew to 65 per cent in 2024. Getty Images
Adia headquarters in Abu Dhabi. The proportion of Adia’s total assets managed internally grew to 65 per cent in 2024. Getty Images
Adia headquarters in Abu Dhabi. The proportion of Adia’s total assets managed internally grew to 65 per cent in 2024. Getty Images
Adia headquarters in Abu Dhabi. The proportion of Adia’s total assets managed internally grew to 65 per cent in 2024. Getty Images

Abu Dhabi wealth fund Adia to remain focused on tech investments this year


Sarmad Khan
  • English
  • Arabic

The Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, plans to continue betting on technology investments this year amid stellar growth in artificial intelligence.

An agile investment approach and active portfolio management helped it deliver strong returns and navigate market volatility and economic uncertainties last year, the fund said in its 2024 annual report on Wednesday.

“Technology and particularly the rise of artificial intelligence will remain at the forefront of public consciousness,” Sheikh Hamed bin Zayed, Adia's managing director, said.

“In coming years, the advancement of these technologies' capabilities, and their increasing integration into the fabric of the global economy, is poised to transform society.”

The fund broadened its “investable universe” to include asset classes such as private credit last year and actively managed private equity investments, as well as equities and equity-related opportunities.

At a portfolio level, the internally managed assets represented 65 per cent of Adia's total portfolio in 2024, with the remaining 35 per cent managed externally.

The sovereign fund said it remains “acutely aware that success in a rapidly changing world requires not only internal expertise but also strong external partnerships”.

Adia, which does not disclose its assets, invests on behalf of the Abu Dhabi government. It is the largest sovereign wealth fund in the Gulf, with assets touching $1.1 trillion, according to consultancy Global SWF.

Adia makes direct and indirect investments across asset classes such as equities, fixed income, infrastructure, private equity and property.

“Global markets in 2024 were a study in contrasts, in which economic, earnings, and technology-related optimism propelled risk assets to their second consecutive year of significant gains, even as geopolitical and structural risks mounted,” Sheikh Hamed said.

“Looking ahead, Adia is now entering a new phase in its evolution, shifting from laying foundational capabilities to refining and implementing data-driven investment decisions.”

Portfolio of investments

Developed equities accounted for the largest portion of Adia’s portfolio last year, ranging between 32 per cent and 42 per cent. Emerging market equities investments varied between 7 per cent and 15 per cent in 2024, according to the annual report.

Real estate accounted for 5 per cent to 10 per cent last year, while private equity investments accounted for 12 per to 17 per cent of its portfolio.

In terms of geographic spread, North America accounted for 45 to 60 per cent, Europe between 15 per cent 30 per cent, emerging markets for 10 per cent to 20 per cent, while 5 per cent to 10 per cent of Adia’s portfolio was concentrated in developed Asia, it said.

The Abu Dhabi’s fund's 20-year and 30-year annualised rates of return on a point-to-point basis were 6.3 per cent and 7.1 per cent, respectively in 2024, compared to 6.4 per cent and 6.8 per cent in 2023.

This year, Adia plans to the continue investing selectively in across assets classes including private equity and will seek to diversify its portfolio through alternative investments and private credit, it said.

In August, the fund said it is investing up to $1.5 billion in Singapore-based GLP to help the logistics investment company grow across markets. Adia, through one of its wholly owned subsidiaries, is investing $500 million in initial capital, which will help strengthen GLP’s financial position, the two companies said at the time.

In June last year, a subsidiary of the Abu Dhabi sovereign fund, together with global private equity investor Advent International, agreed to invest up to $3 billion for a minority stake in Fisher Investments, the money management company founded by billionaire investor Ken Fisher.

The investment by Advent and Adia of at least $2.5 billion valued FI at $12.75 billion, the Texas-based company said at the time.

In Full Flight: A Story of Africa and Atonement
John Heminway, Knopff

Ruwais timeline

1971 Abu Dhabi National Oil Company established

1980 Ruwais Housing Complex built, located 10 kilometres away from industrial plants

1982 120,000 bpd capacity Ruwais refinery complex officially inaugurated by the founder of the UAE Sheikh Zayed

1984 Second phase of Ruwais Housing Complex built. Today the 7,000-unit complex houses some 24,000 people.  

1985 The refinery is expanded with the commissioning of a 27,000 b/d hydro cracker complex

2009 Plans announced to build $1.2 billion fertilizer plant in Ruwais, producing urea

2010 Adnoc awards $10bn contracts for expansion of Ruwais refinery, to double capacity from 415,000 bpd

2014 Ruwais 261-outlet shopping mall opens

2014 Production starts at newly expanded Ruwais refinery, providing jet fuel and diesel and allowing the UAE to be self-sufficient for petrol supplies

2014 Etihad Rail begins transportation of sulphur from Shah and Habshan to Ruwais for export

2017 Aldar Academies to operate Adnoc’s schools including in Ruwais from September. Eight schools operate in total within the housing complex.

2018 Adnoc announces plans to invest $3.1 billion on upgrading its Ruwais refinery 

2018 NMC Healthcare selected to manage operations of Ruwais Hospital

2018 Adnoc announces new downstream strategy at event in Abu Dhabi on May 13

Source: The National

RESULTS

5pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (Dirt) 1,400m
Winner: Yas Xmnsor, Sean Kirrane (jockey), Khalifa Al Neyadi (trainer)

5.30pm: Falaj Hazza – Handicap (PA) Dh70,000 (D) 1,600m
Winner: Arim W’Rsan, Dane O’Neill, Jaci Wickham

6pm: Al Basrah – Maiden (PA) Dh70,000 (D) 1,800m
Winner: Kalifano De Ghazal, Abdul Aziz Al Balushi, Helal Al Alawi

6.30pm: Oud Al Touba – Handicap (PA) Dh70,000 (D) 1,800m
Winner: Pharitz Oubai, Sean Kirrane, Ibrahim Al Hadhrami

7pm: Sieh bin Amaar – Conditions (PA) Dh80,000 (D) 1,800m
Winner: Oxord, Richard Mullen, Abdalla Al Hammadi

7.30pm: Jebel Hafeet – Conditions (PA) Dh85,000 (D) 2,000m
Winner: AF Ramz, Sean Kirrane, Khalifa Al Neyadi

8pm: Al Saad – Handicap (TB) Dh70,000 (D) 2,000m
Winner: Sea Skimmer, Gabriele Malune, Kareem Ramadan

Traits of Chinese zodiac animals

Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent   

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

FIGHT%20CARD
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Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

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MO
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Updated: September 18, 2025, 7:44 AM