Body of ADIA manager found in Morocco

Flags in Abu Dhabi hung at half mast today, with funeral prayers preceding a three-day period of mourning across the country, according to the Abu Dhabi National. Nahyan is the brother of current Abu Dhabi President Khalifa bin Zayad al Nahyan, and was listed as the 27th most powerful person in the world in 2009 by Forbes.

Nahyan joined the Abu Dhabi Investment Authority in 1991 as a stock analyst, becoming managing director in 1997. He is credited with increasing transparency and disclosure at the Abu Dhabi Investment Authority, leading to the release of the first ever review of the fund’s activities last year, which is expected to become an annual occurrence.

The report reveals that 80 per cent of ADIA’s assets are managed by external managers, with private equity benchmarked at between two and eight per cent of the total portfolio.

Crown Prince Sheikh Mohammed bin Zayed al-Nahyan and his five brothers – who collectively already control many of Abu Dhabi’s key sectors, including defence – may try to gain control of ADIA, according to reports. If successful, they would have close to total control of the economy of the Emirati country.

 Copyright © 2010 AltAssets