A subsidiary of the US$1 trillion sovereign wealth fund will increase its stake in the alternate investment manager to 10 per cent over the coming years. Terms of the deal were not disclosed. (The Logic)
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A subsidiary of the US$1 trillion sovereign wealth fund will increase its stake in the alternate investment manager to 10 per cent over the coming years. Terms of the deal were not disclosed. (The Logic)
Talking point: The deal is part of ADIA’s strategy to reach higher return targets through a more precise, data-driven investment approach. ADIA will use Innocap’s platform, which helps clients allocate money into hedge funds at lower fees with more transparency and control. ADIA joins existing Innocap shareholders the Caisse de dépôt et placement du Québec, BNY Mellon, Walter Global Asset Management and BNP Paribas. Mohammed Sghayer Khalaf Al Qubaisi, ADIA’s deputy director of alternative investments, will join Innocap’s board once the wealth fund’s stake has reached 10 per cent. Innocap also announced it plans to open an office in Abu Dhabi this year.
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