The Abu Dhabi Investment Authority (ADIA) is the largest sovereign wealth fund in the Middle East. The sovereign fund has a mandate to invest overseas, utilizing some of the most respected asset managers in the industry. In rare circumstances, sovereign wealth funds and pensions take equity interests in asset management firms. This is a case in point, the China Investment Corporation (CIC) in its investments in the Blackstone Group and Morgan Stanley or the CalPERS firm investment in Silver Lake Partners, a technology-focused private equity company. By investing in asset management firms, public institutional investors are attempting to align the interests of the fund manager with the asset owner.
In addition, indirectly, ADIA would be the biggest manager of third-party capital.
BlackRock is the world’s largest asset manager, climbing above Fidelity, Vanguard and State Street. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]