Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Citigroup Decision Released by Abu Dhabi Sovereign Fund

Abu Dhabi Investment Authority made public an arbitration ruling against it in its claim against Citigroup Inc. over a $7.5 billion investment in the bank in 2007, after a judge ordered the decision released.

U.S. District Judge Kevin Castel in Manhattan ordered a redacted version of the 84-page decision made public, over the objections of Abu Dhabi Investment Authority, a sovereign wealth fund also known as ADIA. The fund complied yesterday. Citigroup announced the result of the arbitration in November 2011.

Castel is overseeing a suit filed by Citigroup in August, in which the bank seeks to block ADIA from pursuing a new arbitration over the investment. ADIA, with $627 billion in assets, is the third-largest sovereign fund, after funds held by Norway and Saudi Arabia, according to the website of the Sovereign Wealth Fund Institute.

ADIA put the $7.5 billion into New York-based Citigroup in November 2007. The fund filed an arbitration claim in 2009 after the value of its investment dropped in the financial crisis. ADIA claimed fraud and asked to rescind the agreement or for damages. A panel of three arbitrators ruled that Citigroup wasn’t liable.

The case is Citigroup Inc. v. Abu Dhabi Investment Authority, 13-cv-06073, U.S. District Court, Southern District of New York (Manhattan).

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.