Abu Dhabi Investment Authority http://www.eia.gov.ae/

The Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund owned by Emirate of Abu Dhabi (in United Arab Emirates) founded for the purpose of investing funds on behalf of the Government of the Emirate of Abu Dhabi. It manages the Emirate’s excess oil reserves, estimated to be as much as $500 billion. Its portfolio grows at an annual rate of about 10% compounded.[2]

ADIA has never published how much it has in assets but estimates have been between $800 billion to approximately $875 billion USD.[1] The Sovereign Wealth Fund Institute puts the figure at US$773 billion.[3]

In 1967, Abu Dhabi emirate created the Financial Investments Board which operated within its Department of Finance and was responsible for managing the Emirate's excess oil revenues. However, in 1976, Sheikh Zayed bin Sultan Al Nahyan, the founding President of the United Arab Emirates and leader of Abu Dhabi made the decision to create the Abu Dhabi Investment Authority instead and separate it from the government as an arms-length organization with its own management.[4] The goal was to invest the Abu Dhabi government’s surpluses across various asset classes, with low risk.[5] At the time it was novel for a government to invest its reserves in anything other than gold or short-term credit. Even today, investment in short-term paper remains the strategy for the vast majority of countries.[5][citation needed]

Many of ADIA's investments have decreased substantially since investments were made at market peaks in 2007 and 2008. The $7 billion investment in Citigroup has lost approximately 90% of its value as of 26 Nov 2009, 2 years after it acquired a sizable stake in the bank. Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. Though it talks of its long term success in generating returns, the fact that its moved closer to the index and manages most of its funds through external third party fund managers shows that its tolerance for risk taking is greatly diminished over the years. However, ADIA's ratio of third-party fund managers is being actively managed. In 2006, between 70% and 80% of the organization’s assets were managed outside with an aim to bring that down to between 60% and 70%.Some products have a higher proportion of funds placed with external managers than others.[5] {{who}}.

Board of directors[edit]
The board members currently serve for a period of three years, and can be renewed. They are appointed by Emiri decree. The current board dates back to the April 2010 reshuffle (Emiri decree n°4/2010) and it was fully renewed April 2013. Its current constitution is as follows:

His Highness Sheikh Khalifa bin Zayed Al Nahyan, Chairman (President of UAE and Ruler of Abu Dhabi)
HH Sheikh Sultan bin Zayed Al Nahyan, Representative of His Highness the President of the State (UAE)
HH Sheikh Mohammed bin Zayed Al Nahyan, (Crown Prince of Abu Dhabi and Deputy Supreme Commander)
HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs (UAE)
HH Sheikh Hamed bin Zayed Al Nahyan,Managing Director, (replacing his accidentally deceased brother Sheikh Ahmed bin Zayed Al Nahyan)
HH Sheikh Mohammed bin Khalifa bin Zayed Al Nahyan, Member of the Executive Council (Abu Dhabi)
Mohammed Habroush Al Suwaidi Head of the Department of Finance - Abu Dhabi
Hamad Mohammed Al Hurr Al Suwaidi, Head of the Department of Finance - Abu Dhabi
Khalil Mohammed Foulathi.
Former important board members include :

Sheikh Ahmed bin Zayed Al Nahyan (1969-2010), appointed as Managing Director in 1997, while still in his twenties. He died accidentally in 2010 and was replaced by his half-brother Sheikh Hamed bin Zayed Al Nahyan. He very much symbolized the growth of the fund during the 1990s and early 2000s.
Khalifa Muhammad Khalifa Al Kindi (born 1959), appointed as Deputy Managing Director in 1997. He served until 2007, when he was dispatched to manage the newly established Abu Dhabi Investment Council (ADIC).
Key personnel[edit]
As of 2013, members of ADIA's investment and management team (in alphabetical order) include:[11]

Tom Arnold, Head of Americas, Real Estate
Glen Beamson, Chief Technology Officer
Jean-Paul Villain, Chief Strategist
Ted Chu, Chief Economist
Keith Collins, Chief Accounting Officer
Pascal Duhamel, Head of European Real Estate Investments
Gregory Eckersley, Global Head of Internal Equities
Eduardo Favrin, Head of Latin America Operations
Marc Keirstead, Chief Financial Officer, Private Equities Department
James Kester, Chief Investment Officer, Private Equities
Colm Lanigan, Head of Principal Investments, Private Equities Department
John McCarthy, Global Head of Infrastructure
Bill Schwab, Global Head of Real Estate
Brian Shepard, Global Head of International Operations
Ben Weston, Global Head of Alternative Investments