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GA partners with Abu Dhabi wealth fund

General Atlantic has teamed up with with Abu Dhabi wealth fund ADQ and International Holding Co (IHC), the biggest listed company in the emirate, to form a new venture which, according to ADQ, will be the region’s largest multi-asset class alternative investment manager.

General Atlantic (GA) has teamed up with with Abu Dhabi wealth fund ADQ and International Holding Co (IHC), the biggest listed company in the emirate, to form a new joint-venture which, according to ADQ, will be the region’s largest multi-asset class alternative investment manager.

The new entity will manage a portfolio of assets drawn from the AbuDhabi Growt fund (ADG) – ADQ’s alternative investments platform – and IHC, as well as fresh capital from General Atlantic, which is joining as an anchor investor, and future investors.. 

It is expected that all ADQ, ADG and IHC’s capital earmarked for alternative investments will be deployed by the new investment manager. 

Through a series of new funds, the new entity will make investments in alternative assets, including private equity, venture capital, private credit and public equities. It will invest through a combination of LP commitments to top tier global funds (ie, fund of funds strategy), direct investments (inclunding Private Equity and Venture Capital), credit and co-investments. 

General Atlantic has been investing in the Middle East since 2015 and has so far deployed about $400 million in firms such as online real estate search platform Property Finder and Network International, the credit card processing firm.

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