Dubai International Capital and Istithmar: Dubai investment arms flex their buying muscle
Dubai’s investment agencies might not have the scale of their counterparts from other parts of the Middle East but they are becoming voracious buyers of assets. Who are they and what are their plans? Sudip Roy and Simon Brady profile the people and strategies behind Dubai International Capital and Istithmar as they join the ranks of the world’s most powerful investors.
THINK OF INVESTMENT agencies in the Middle East and a few names spring immediately to mind: Abu Dhabi Investment Authority (Adia), Kuwait Investment Authority and Qatar Investment Authority. Combined, these funds are fast approaching the $1 trillion assets under management mark.
Compared with these three, Dubai’s main investment vehicles, with less than $50 billion of assets, are small.