Adic to launch five funds in the next few weeks

Abu Dhabi Investment Company (Adic) will launch five funds, including an international real estate fund, in the course of next few weeks. Addressing the annual Asian Venture Capital Journal's Middle East Private Equity and Venture Forum in the capital, Samir Assaad, Head of Private Equity (PE) at Adic, said they were in the process of launching five funds to invest in different local, regional and international markets to help further expand their portfolios. The funds, he said, including an international real estate fund to help tap the global property market, will be launched within next few weeks. However, he refused to go into details when asked about the natures, sizes and names of the funds. "Those specific funds are part of our asset management group. Therefore, I cannot comment. I cannot elaborate on that right now. I think you will be hearing something in the next few weeks about that. The funds will be launched in the coming few weeks," Assaad said. He said the funds will be developed in joint ventures with different market players, mainly general partners (GPs) and limited partners (LPs). He also said the funds are at study stages; therefore it would be premature to elaborate on the details. On the international real estate fund size, Assaad said: "I don't know if it has been decided yet. We have several real estate investment areas. We are in the process of founding a real estate fund that will be invested globally." Referring to private equity business of Adic, he said his focus was on the direct investment portfolio. "It is about making sure our companies are projected to produce superior returns. I'm spending a lot of time with company management teams, putting in place the future projection of growth plans, and then looking for new opportunities to deploy capital." Asked if Adic was looking for IPOs, he said: "No. IPO market is closed." Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here .