The Abu Dhabi Investment Authority (ADIA), the Abu Dhabi sovereign wealth fund, is set to close its London office.
The sovereign wealth fund which notably owns stakes in the parent companies of Gatwick Airport and property company Fizzy Living has decided to end its direct presence in Knightsbridge, Central London.
“ADIA is proposing to close its London office,” an ADIA spokesperson told PERE. “This has no impact on our investments in, and commitment to, the UK, which will continue as before.”
The office is relatively small with fewer than 20, mainly back office, professionals. ADIA employs roughly 1700 people around the world.
ADIA is one of the most active real estate investors worldwide and dedicates large amounts of capital to property holdings.
Its real estate assets are managed by a merged department of real estate and infrastructure. The department is responsible for 6 percent to15 percent of ADIA's assets, 5 percent to 10 percent accounting for real estate and 1 percent to 5 percent for infrastructure.
The most recent estimation of ADIA’s assets under management is $773 billion, according to investor research group the Sovereign Wealth Fund Institute.
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