ADQ’s Abu Dhabi Growth Fund Gets a Big Start

Posted on 11/07/2021

The Abu Dhabi Growth Fund (ADG) was established by the Abu Dhabi Developmental Holding Company PJSC (ADQ) in July 2021. Khalifa Sultan Al Suwaid is the CEO of the Abu Dhabi Growth Fund. The fund’s principal mandate is to generate high financial returns for ADQ (ultimately Abu Dhabi) through an investment strategy that captures multiple different opportunities including growth equity, value investments, and special situations. The fund is a global institutional investor investing in both liquid and illiquid strategies. The primary investment strategy is across a spectrum of sub-asset classes in equities via direct and co-investment opportunities.

Abu Dhabi Growth Fund inked a partnership agreement with the Indonesia Investment Authority (INA). Abu Dhabi Growth Fund will look at investments in Indonesian infrastructure in high-yield financial investments, both liquid and non-liquid equity strategies. The Abu Dhabi Growth Fund will play a role in the grand Investment Framework Agreement with the Indonesia Investment Authority to support the UAE’s US$ 10 billion investment in Indonesia.

The Abu Dhabi Growth Fund also invested in Lime, a shared-electric transport service (e-bikes and e-scooters). Lime closed a US$ 523 million raise in convertible debt and term loan financing. Of the total funding amount, US$ 418 million is comprised of convertible debt led by Abu Dhabi Growth Fund, Fidelity Management & Research Company, Uber Technologies, and certain funds managed by Highbridge Capital Management. UBS O’Connor (UBS Group AG) provided the remaining US$ 105 million as a senior secured term loan facility.

Lime is the DBA name of Neutron Holdings, Inc.

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