Abu Dhabi’s ADIA secures a stake in Canadian company Innocap.

Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the UAE, is investing in Innocap Investment Management, a Canadian platform that makes it easier to allocate capital to multiple hedge funds.

The investment by a wholly owned subsidiary of ADIA is for a minority stake, which will be progressively increased to 10% in the coming years. Innocap said that Mohammed Sghayer Khalaf Al Qubaisi, deputy director of the sovereign fund’s alternative investments department, would join its board “at that point”. The financial details of the transaction were not disclosed.

Read the original article in Gulf Business: Abu Dhabi’s ADIA acquires stake in Canadian Firm Innocap