Abu Dhabi Investment Authority (Adia), the sovereign wealth fund of Abu Dhabi, has opened an office in Hong Kong as a platform to invest in China and Asia-based businesses, China Money Network reported today.
The office, dubbed Adia Hong Kong, will be headed by Dong-Sinh Ngo, who has been appointed as chief representative for Asia Pacific. Ngo will work closely with the senior investment professionals working for Adia in Abu Dhabi.
Ngo previously served as head of products and investments solutions at Credit Agricole Hong Hong and chief strategist for emerging markets and Apac at BNP Paribas.
Adia was established in 1976 and is primarily funded through the country’s profit from oil exports. It has an estimated $800bn to $875bn under management.
Sheikh Hamed bin Zayed Al Nahyan, chief of the Abu Dhabi Crown Prince’s Court and managing director of Adia, said: “Adia has been investing and building relationships in Asia for more than three decades, with a portfolio that spans multiple asset classes.
“Our decision to open an office in Hong Kong is a symbol of our confidence in Asia’s continued growth and our long-term commitment to the region.”