Smaller Abu Dhabi sovereign wealth fund sees growth

One of Abu Dhabi’s smaller sovereign wealth funds is growing at a steady clip. ADQ’s total assets are worth $251 billion, a spokesperson told Semafor, up 11% from the most recent estimate in June 2024 by go-to fund tracker Global SWF. ADQ came onto the scene in 2018 with $117 billion in cash and assets transferred by the Abu Dhabi government, with holdings that include Etihad Airways, Emirates Nuclear Energy Company, and Abu Dhabi exchange ADX.

Abu Dhabi is the undisputed “capital of capital” (a slogan the government has been pushing since at least 2023): The city overtook Oslo last year to become the world’s richest in terms of assets managed by sovereign wealth funds, with $1.7 trillion under management as of October, according to Global SWF.