Abu Dhabi Shakeup May Hand Crown Prince More Dealmaking Clout

Abu Dhabi is folding its $263 billion wealth fund ADQ into a sovereign entity overseen by Crown Prince Sheikh Khaled bin Mohammed, a significant overhaul that potentially thrusts the royal into the heart of the emirate’s dealmaking ambitions.

ADQ’s deal with L’imad Holding Co., will create yet another investing behemoth in the emirate that’s already home to entities that control close to $2 trillion in assets. The changes reflect Abu Dhabi’s vision to grow sovereign investment funds locally and globally, according to a statement.