The Abu Dhabi Investment Council (ADIC), an independently run unit of Mubadala Investment Co. with a $160 billion portfolio, has recently appointed a BlackRock veteran to lead its real assets division. This hire is part of ADIC's broader strategy under CEO Saeed Al Mazrouei, who took over in late 2023, to expand into new asset classes, refresh its senior leadership, and increase its targeted returns to at least 10%. The fund has been noted for its increasingly proactive investment approach, moving beyond its previously quiet operations.
ADIC's strategic shifts include launching a secondaries business, increasing exposure to Bitcoin, and accelerating its push into insurance. These moves align with its goal to achieve higher returns and diversify its investments. The fund has also been active in recruiting top talent, with previous hires including Ben Samild, former CIO of Australia's Future Fund, as chief strategist in September, and Simon Fraser, also from the Future Fund, as head of derivatives in April 2026. Dan Teper also leads co-investments in real estate, signaling a move towards more active, deal-level partnerships rather than traditional fund models.
The Abu Dhabi fund has been actively deploying capital, showcasing its bolder investment appetite. For instance, ADIC recently committed approximately $1 billion in new capital to Asfandyar Nadeem's macro hedge fund, Deem Global. This investment highlights the growing appeal of macro strategies and Abu Dhabi's ambition to become a significant backer in the industry. The emphasis on real assets, alongside other alternative investments, underscores ADIC's pivot towards more dynamic and higher-yielding opportunities, as it works to become a more vocal and influential player in global finance.
