| Abu Dhabi Investment Authority’s move to bring more of its asset management in-house is gathering pace. Adia is estimated to have assets under management of between $600 billion and $800 billion and, up until three years ago, external managers ran 80% of that. Its 2014 report, released in June, shows that figure has fallen to 65%, from 75% the year before.
If the $800 billion figure is correct, then that’s $120 billion of money that has been taken from external fund managers and moved in-house over the last three years. This should not be a surprise. In April, Euromoney’s feature on emerging-market real estate gained access to Adia’s in-house real estate and infrastructure team, revealing a level of great sophistication in the fund’s internal capabilities...............................................Full Article: Source
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