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Sovereign Wealth Funds Briefing - Categorized | Market

Abu Dhabi Santiago Bernabeu: Oiling the wheels of footie

Posted on 13 February 2015

The news that Abu Dhabi’s International Petroleum Investment Company has secured naming rights to Real Madrid’s home ground – turning it into the Abu Dhabi Santiago Bernabeu – represents an interesting branding exercise. Sovereign wealth funds rarely seek brand recognition: usually quite the reverse.
IPIC’s venture puts us in mind of another Abu Dhabi sovereign wealth fund’s brief engagement with international football, when the Abu Dhabi Investment Authority (Adia)’s shareholding in Manchester United reached a level where it had to be disclosed, back in 1998. Clearly, there was nothing wrong with that as an investment, but Adia reportedly exited it because of the unwelcome attention it was bringing, to the point where disgruntled fans would phone up the sovereign wealth fund if their team lost at the weekend………………………………………..Full Article: Source


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