Adic to start investing next month

The Abu Dhabi Investment Council (Adic), which launched last June, is expected to start investing next month, according to the Financial Times.Created by the government to diversify its investment risk, it will compete with the Abu Dhabi Investment Authority, which has acted as a savings fund for the emirate’s future generations, said the FT. It will focus on investments within the Middle East as well as internationally, and has taken on Adia’s stake in a handful of companies, including the National Bank of Abu Dhabi and the Abu Dhabi Commercial Bank.It will work alongside other government investment arms, including the Mubadala Development Company and the International Petroleum Investment Company. Source