Finance
Abu Dhabi’s ADIA Buys Stake in Canadian Firm in Hedge Fund Push
- ADIA plans to raise its stake in Innocap to 10% progressively
- Innocap also plans to open an office in Abu Dhabi this year
This article is for subscribers only.
The Abu Dhabi Investment Authority is buying a minority stake in a Canadian platform that makes it easier to allocate capital to multiple hedge funds.
A subsidiary of the $1 trillion sovereign wealth fund will progressively raise its exposure in Innocap Investment Management Inc. to 10% in the coming years, according to a statement on Tuesday. At that point, Mohammed Sghayer Khalaf Al Qubaisi, deputy director of the fund’s alternative investments department, will join the Innocap board. Financial details of the transaction weren’t disclosed.