Tech, climate change to be key focus areas for Abu Dhabi wealth fund after COVID-19

Photo: Saj Shafique

Abu Dhabi Investment Authority (ADIA), the United Arab Emirates’ biggest sovereign wealth fund, sees technology and climate change as key investment areas for its post-COVID-19 strategy, it said in its 2020 annual review.

ADIA, which manages capital on behalf of the oil-rich Abu Dhabi government, does not disclose the value of its assets but the Sovereign Wealth Fund Institute, a research group, estimates them at $649 billion.

As of the end of last year ADIA achieved 20-year and 30-year annualised rates of return of 6% and 7.2% respectively, compared with 4.8% and 6.6% in 2019, it said in its report, published on Wednesday.

“As with any great shock to the status quo, the pandemic has also acted as a catalyst to accelerate a number of important themes in global financial markets,” Managing Director Hamed bin Zayed al-Nahyan said in the report.

Major areas of focus for the fund include technology, healthcare, renewable energy, and real estate sub-sectors such as logistics and data centres.

ADIA increased its exposure to renewable energy and through its infrastructure investments it now has an indirect interest in assets with a renewable capacity of more than 20 gigawatts.

On the equities side, its Indexed Fund Department introduced a climate change portfolio last year.

In 2020 ADIA combined previously separate external and internal equities departments, one tasked with overseeing the activities of external managers and the other with managing multiple internal portfolios.

It also created a team – for which it plans to hire more people – tasked with implementing investment strategies using a quantitative, scientific approach, it said.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.