International Petroleum Investment Company

IPIC

United Arab Emirates – Abu Dhabi US$ 65.3 Billion
Established: 1984
Transparency Rating: 9
View Sovereign Fund Transaction Data
View Asset Allocation		 Origin: Oil
Firm Investment Style: Portfolio
Entity Structure: PJ Stock Company
Pop Est.: 921,000 – 2013 – Abu Dhabi
Wealth Per Capita Est.: $70,901
Summary
The International Petroleum Investment Company (IPIC) is the Abu Dhabi state enterprise which is responsible for all foreign investments in the oil and chemicals sector. It is based in Abu Dhabi, United Arab Emirates.

Background
When the IPIC was first established in May 29, 1984, the share capital was owned 50:50 by the Abu Dhabi Investment Authority and the Abu Dhabi National Oil Company. On December 6, 1986, the Government of the Emirate of Abu Dhabi became the direct owner of IPIC’s entire share capital. Since 2012, the government of Abu Dhabi has made six equity contributions to IPIC totaling US$ 3.5 billion, the latest in 2008.

Strategy & Objectives
The IPIC takes direct stakes in companies and assets in a variety of industries.

The IPIC portfolio includes investments in Austria, Egypt, Pakistan, Spain, South Korea, United Arab Emirates, Germany, Oman, Japan, and Portugal. Investments include downstream hydrocarbon operations, petrochemical plants, pipelines, power utilities and shipping.

Governance
The IPIC is managed by a board of directors appointed by Emiri Decree, the government of Abu Dhabi appoints them.

Sovereign Wealth Enterprises
1. Aabar Investments PJS
Aabar was initially mandated to develop an oil & gas business with focus on exploration and production. The Abu Dhabi Investment Company (ADIC) and Mubadala Development Company are among the original investors. Aabar Investments PJS was delisted from the Abu Dhabi Securities Exchange. Aabar invests in a variety of industries such as infrastructure, aviation, real estate, automotive, commodities, energy and financial services.

a. Aabar Properties LLC (Real Estate arm of Aabar Investments PJSC)
b. Aabar Luxembourg Sarl (Holds Unicredit SpA)

Major Direct Foreign Investments (Public & Private)
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