Emirates Investment Authority Takes a Strategic Spin

In November 2007, the Emirates Investment Authority (EIA) was created by Emiri decree. They are the United Arab Emirates’s federal sovereign wealth fund. The sovereign fund has characteristics of a strategic development sovereign wealth fund, similar to that of the Mubadala Development Company and Bahrain’s Mumtalakat Company. This marks a stark contrast in style to the Abu Dhabi Investment Authority. The sovereign entity is even debating whether to raise debt to enable more acquisitions.

The EIA controls positions in several UAE firms such as Etisalat (Emirates Telecommunications Group) and du.  Etisalat operates in over 18 countries and services over 100 million customers in Asia, the Middle East, and Africa.  The EIA holds around 60% in Etisalat.  In terms of direct investments, they are allocated towards telecommunications; however, they see possibilities of jumping more into financial services, education, food production companies, and healthcare. The EIA does not only invest in just direct stakes in companies. They are also active in bonds and private equity funds.

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