Abu Dhabi Investment Company (ADIC) plans to launch an international fund focused on the real estate sector, reports the Guardian. The company will also launch four other funds to invest in companies whose valuations to take advantage of the opportunistic valuations. The funds are expected to be launched in about a month.
ADIC, which is owned by the Abu Dhabi Investment Council, had last month disclosed its plans of investing in high grwoth companies, and sectors that have been less affected by the slowdown. ADIC also said that it was looking at sectors such as healthcare, education, telecoms, consumer goods, and logistics and distribution.
ADIC will focus on investing in Middle East and North Africa. The group also expects to see more deals emerging out of United Arab Emirates, Saudi Arabia, Turkey and Egypt. The company is currently in discussions with a few large family businesses in the region that are looking at divesting and relocationg some of their businesses. It had also said that family run businesses were looking for capital and expertise for expanding their businesses across borders.
About a week back, the company had said that it was expecting the global economic crisis to prompt a spate of mergers and acquisitions and had, hired senior investment banker, Alex Carré de Malberg from Rothschild to build a team to give advise on cross?border investment.
Since its establishment in 1977, ADIC has been acting as an investment arm for the Abu Dhabi government. Today ADIC also offers its investment expertise to institutional and HNW (high net worth) investors.
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