Launch Partners

Launch Partners

ADIA buys into hedge fund platform Innocap

GLOBAL: The Abu Dhabi Investment Authority (ADIA) is buying a minority stake of up to 10% in Innocap Investment Management, a Canadian platform which facilitates capital allocations to multiple hedge funds. Managed accounts, which gained popularity after recent financial crises as a way to avoid getting locked into hard-to-sell assets, are evolving into a preferred route to quickly deploy capital in existing firms and hedge fund startups. Innocap’s shareholders include Caisse de Depot et Placement du Quebec, Bank of New York Mellon, Walter Global Asset Management and BNP Paribas. The US$1 trillion ADIA sovereign wealth fund was set up in 1976 to invest the emirate’s surplus energy revenues and diversify its economy. 

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