One of the worlds richest sovereign wealth funds has opened an office in Hong Kong to pursue more opportunities in China.
The Abu Dhabi Investment Authority (ADIA) Hong Kong office will be its only overseas office after it shut down its London unit last year.
ADIA, which manages the long-term investment of the Emirate’s oil wealth overseas, has usually concentrated its investment interests in markets such as Europe and North America but has been increasing its Asian interests.
Confidence in Asia’s Continued Growth
ADIA recently signed a HK$18.5 billion high-profile deal to buy a 50 percent stake in three of Hong Kong’s plushest hotels – Grand Hyatt Hong Kong, Renaissance Harbour View and the Hyatt Regency Hong Kong.
The huge wealth fund has appointed Dong-Sinh Ngo as chief representative for Asia-Pacific
«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,» said Sheikh Hamed bin Zayed al-Nahyan, Managing Director of ADIA.
