Abu Dhabi Financial Group

Abu Dhabi Financial Group
Industry Financial Services
Founded 2011
Headquarters Abu Dhabi, United Arab Emirates
Key people
 Jassim Alseddiqi, CEO
Services Alternative Investments, Asset Management, Securities Trading and Real Estate development
AUM US$3.5 billion
Subsidiaries Northacre, Integrated Securities LLC, Integrated Alternative Finance, Integrated Capital PJSC
Website www.adfg.ae

Abu Dhabi Financial Group (ADFG) is a multi-billion dollar Emirati investment company, headquartered in Abu Dhabi.

History

Founded in 2011, the ADFG is headquartered in Abu Dhabi, with offices in Dubai, Eastern Europe, and London.[1][2] Over the last five years, the company has evolved and expanded into an integrated financial services platform under the umbrella of ADFG, branching out into real estate investments and debt structuring and management.[3] Since its establishment, ADFG has demonstrated a pioneering track record when it formed the Middle East's first dedicated secondaries-focused private equity fund – the ADCM Secondary Private Equity Fund - targeted towards acquiring interests in MENA-based funds.[4]

A year later, in 2012, ADFG launched the listed private equity fund Qannas Investment Limited through a flotation on London Stock Exchange’s Alternative Investment Market. This was the first ‘cash shell’ arrangement by a Middle Eastern company.[5]

Real Estate

United Kingdom

ADFG owns 68.84% of Northacre, a developer of luxury apartments in London, via Spadille Limited, a registered investment vehicle in the tax haven of Jersey.[6] ADFG bought New Scotland Yard, the former Metropolitan Police headquarters, for £370 million in December 2014, and Northacre has submitted plans to demolish the 1960s block in Victoria and build luxury apartments, whilst retaining the familiar rotating sign.[7][8]

In February 2016, the redevelopment proposal, consisting of six residential-led buildings ranging from 14 to 20 storeys, was approved by Westminster City Council. In total, the development rebranded 'The Broadway' will consist of 246 super prime apartments. Work on the development is expected to commence in 2016 with the new properties completed in 2021.[9]

In November 2015, the CEO, Jassim Alseddiqi, stated that there would be "major shopping" and that 2016 would be an "important year" for ADFG.[2]

Eastern Europe

In September 2015, ADFG officially opened the landmark commercial and residential investment project in Montenegro, The Capital Plaza. Located in the heart of Podgorica, Montenegro’s capital city, The Capital Plaza is the largest mixed-use real estate development in the country, occupying over 100,000 square metres of prime retail, business, hospitality and residential space.

The opening ceremony was attended by a large number of high-ranking officials, dignitaries and diplomats, including H.E. Milo Đukanović, Prime Minister of Montenegro; H.E. Abdulhamid Saeed, Managing Director of Capital Investment; and H.E. Hafsa Al Ulama, UAE Ambassador to Montenegro.[10]

Alternative Credit

ADFG’s credit financing platform, Integrated Alternative Finance (IAF), operates primarily in the UAE and London markets. With strong links to financial institutions and alternative lenders, including ADFG itself, the platforms have access to capital that can be structured to specific corporate or project circumstances. In addition, the platform also provides on-going monitoring and management of debt investments on behalf of investors.[11]

IAF provides alternative financing and structuring solutions to asset owners and developers for acquisition, restructuring, refinancing or development projects. Regulated by the Dubai Financial Services Authority, IAF is primary focus is in the real estate sector.

To date, IAF has arranged finance totaling approximately US$2 billion, with a realised IRR on high yield debt of over 15%.

Capital Markets

Integrated Capital, the capital markets arm of ADFG, co-led on the successful completion of the oversubscribed issue of a corporate bond for Etihad Airways Partners.[12] The collaboration between ADFG and Etihad was not the first; in September 2015, Integrated Capital also participated in the $700 million note issued by Etihad. The issue of the Note got worldwide honor and won multiple awards from prominent company media outlets across the world.

In June 2016, ADFG announced that it was acquiring a 48.3 per cent stake in Dubai-based financial services firm Shuaa Capital from Dubai Group.[13][14]

References

  1. ↑ "About ADFG". ADFG. Retrieved 26 November 2015.
  2. 1 2 Diaa, Sarah (10 November 2015). "ADFG eyes growth, potential acquisitions in 2016". Gulf News. Retrieved 26 November 2015.
  3. ↑ Halligan, Neil (3 October 2014). "ADFG eyes growth, potential acquisitions in 2016". Arabian Business. Retrieved 5 March 2016.
  4. ↑ Morby, Aaron (23 March 2011). "Abu Dhabi Capital Management voted UAE's top private equity fund". Retrieved 18 August 2016.
  5. ↑ Halligan, Neil (3 October 2014). "Fast and Furious: Jassim Alseddiqi". Retrieved 18 August 2016.
  6. ↑ "Spadille Limited". ADFG. Retrieved 26 November 2015.
  7. ↑ Fahy, Michael (25 November 2015). "Decision on plans to transform New Scotland Yard due early next year". The National. Retrieved 26 November 2015.
  8. ↑ Davies, Rob (26 November 2015). "Wealthy buyer snaps up unfinished flat next to Buckingham Palace for £20m". The Guardian. Retrieved 26 November 2015.
  9. ↑ Morby, Aaron (23 February 2016). "£1bn New Scotland Yard redevelopment approved". Construction Enquirer. Retrieved 7 August 2016.
  10. ↑ Barnard, Lucy (15 September 2015). "Abu Dhabi investors expand in Montenegro as Capital Plaza opens". The National. Retrieved 7 August 2016.
  11. ↑ "Integrated Alternative Finance, an Abu Dhabi Financial Group company, arranges financing for IFA Hotels & Resorts subsidiary". Zawya. 17 May 2016. Retrieved 8 August 2016.
  12. ↑ Mohktar, Habibi (26 May 2016). "ADFG's Integrated Capital co-leads oversubscribed $500 million Etihad Airways Note". Day of Dubai. Retrieved 20 June 2016.
  13. ↑ Kassem, Mahmoud (8 June 2016). "Abu Dhabi's ADFG to buy 48.3% of Dubai's Shuaa Capital". The National. Retrieved 20 June 2016.
  14. ↑ Sharif, Arif (8 June 2016). "Dubai Group to Sell Shuaa Stake to Abu Dhabi Financial Group". Bloomberg. Retrieved 20 June 2016.
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