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Abu Dhabi wealth fund ADQ signs deal for stake in Egypt luxury hotels

VCCircle

VCCircle · 1y ago

Abu Dhabi wealth fund ADQ signs deal for stake in Egypt luxury hotels

Abu Dhabi's wealth fund ADQ has reached an agreement to acquire a 40.5% stake in ICON, the hospitality arm of Egypt's Talaat Moustafa Group (TMG). This deal will grant ADQ partial ownership of several luxury hotels in Egypt. The transaction, a capital increase carried out by ADQ and its unit ADNEC, is seen as a significant foreign direct investment in Egypt's tourism and hospitality sector. The financial details of the deal have not been disclosed.

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Abu Dhabi’s ADQ to acquire minority stake in Sotheby’s, owner Patrick Drahi to invest additional capital

Livemint

Livemint · 1y ago

Abu Dhabi’s ADQ to acquire minority stake in Sotheby’s, owner Patrick Drahi to invest additional capital

ADQ, the sovereign wealth fund of Abu Dhabi, has agreed to acquire a minority stake in auction house Sotheby's. The deal, worth $1 billion, includes additional capital from owner Patrick Drahi. ADQ's investment will largely consist of newly issued shares, while Drahi will retain majority ownership. The funds will be utilized to strengthen the company's balance sheet, expand its business, and enhance client experience. The partnership with ADQ, known for operational excellence and long-term planning, will bolster Sotheby's presence in the Middle East, a rapidly growing market for art and luxury goods. The deal comes amid a challenging period for the auction sector, as global art sales have contracted by 4% in recent years.

Abu Dhabi wealth fund ADQ signing off from India bet with a bummer

VCCircle

VCCircle · 7m ago

Abu Dhabi wealth fund ADQ signing off from India bet with a bummer

Abu Dhabi sovereign wealth fund ADQ has decided to exit one of its limited private equity investments in India after four years, with minimal returns. Despite being involved in the Indian market, ADQ has not been as active as its counterparts like the Abu Dhabi Investment Authority and Mubadala. Details about the specific investment and the reasons for the exit have not been disclosed.

Abu Dhabi wealth fund ADQ raises $2 bn via bond issue

VCCircle

VCCircle · 11m ago

Abu Dhabi wealth fund ADQ raises $2 bn via bond issue

Abu Dhabi sovereign wealth fund ADQ has successfully raised $2 billion through a bond issue, according to reports. The two-tranche bond sale saw strong investor demand, with order books reaching $8 billion. The offering included a $1 billion 7-year tranche at 85 basis points over U.S. Treasuries, and a $1 billion 30-year tranche at 120 bps over. ADQ intends to use the funds to diversify its funding sources for future acquisitions. The wealth fund, fully owned by the Abu Dhabi government, has over $225 billion in assets under management.

PharmEasy plans ₹3,500 cr rights issue next week

Livemint

Livemint · 2y ago

PharmEasy plans ₹3,500 cr rights issue next week

Temasek Holdings, TPG, Prosus, CDPQ, Eight Roads, LGT, Abu Dhabi sovereign wealth fund ADQ, Amansa, OrbiMed and Sunil Kant Munjal’s family office have already committed to invest as much as ₹2,000 crore

ADQ, Oman Investment Authority float VC fund to make bets in buzzing MENA startup market

VCCircle

VCCircle · 1y ago

ADQ, Oman Investment Authority float VC fund to make bets in buzzing MENA startup market

Gulf sovereign wealth investors, ADQ and Oman Investment Authority, have launched a venture capital fund to support high-growth startups in the Middle East and North Africa (MENA) region. The fund aims to capitalize on the increasing interest from VC players in the MENA startup market. ADQ is based in Abu Dhabi, while the Oman Investment Authority is the sovereign wealth fund of Oman.

Abu Dhabi wealth fund ADQ, Orion team up to invest $1.2 bn in metals, mining

VCCircle

VCCircle · 7m ago

Abu Dhabi wealth fund ADQ, Orion team up to invest $1.2 bn in metals, mining

Abu Dhabi's sovereign wealth fund ADQ and Orion Resource Partners are forming a joint venture to invest $1.2 billion in the metals and mining sector. Based in Abu Dhabi, this 50-50 partnership will focus on emerging markets in Africa, Asia, and Latin America over four years. The investment will utilize various asset classes, including equity and debt. This initiative supports Abu Dhabi's economic diversification efforts by securing critical raw materials for future industries.

ADQ-backed Filipino fintech Salmon set to snag fresh equity funding

VCCircle

VCCircle · 1y ago

ADQ-backed Filipino fintech Salmon set to snag fresh equity funding

Filipino fintech firm Salmon, backed by Abu Dhabi sovereign wealth fund ADQ, is on the verge of securing a new round of funding from a prominent international investor. Salmon is a consumer fintech company registered in the UAE but operating in the Philippines. With this fresh injection of equity funding, Salmon aims to further enhance its operations and grow its presence within the fintech industry.

Fisher Sells Stake of Up to $3 Billion to Advent, Abu Dhabi Fund

Livemint

Livemint · 1y ago

Fisher Sells Stake of Up to $3 Billion to Advent, Abu Dhabi Fund

Private equity firm Advent International and a unit of the Abu Dhabi Investment Authority have acquired a minority stake in Fisher Investments, the investment firm founded by billionaire Ken Fisher. The deal, valued at up to $3 billion, is seen as part of Fisher's estate planning and will allow the firm to maintain its independence. Fisher Investments currently manages $275 billion for over 150,000 clients. Advent International has a focus on financial services and has previously backed companies such as Worldpay and Vantiv. The Abu Dhabi Investment Authority is a sovereign wealth fund.

Mubadala inks deal to invest in Indian healthcare sector

VCCircle

VCCircle · 1y ago

Mubadala inks deal to invest in Indian healthcare sector

Mubadala Investment Company, the sovereign wealth fund of Abu Dhabi, has made a deal to acquire a stake in an Indian healthcare company, marking its return to the Indian market after 18 months. The private equity-style investment signals Mubadala's continued interest in the healthcare sector and its commitment to expanding its portfolio in India.

UAE-based Aliph Capital makes second deployment from $250-mn vehicle

VCCircle

VCCircle · 8m ago

UAE-based Aliph Capital makes second deployment from $250-mn vehicle

UAE-based private equity firm, Aliph Capital, has made its second investment from its $250 million fund. The firm recently announced Saudi Venture Capital (SVC) as a limited partner for its Aliph Fund I. Backed by Abu Dhabi's sovereign wealth fund, ADQ, Aliph Capital focuses on mid-market investments.

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