Where is ADIA? i.e., the Abu Dhabi Investment Authority, supposedly the largest SWF in the world. Instead what I could manage to get from Davos is Dr. Tony Tan from Singapore's SWF, the GIC.
ADIA does not have a habit of dropping by Davos, but I had hoped that they would make an exception this year. In the June last year, the secretive ADIA allowed Businessweek magazine to feature them. They had started to make themselves noticed because the Americans are getting concerned about the investment activities of large SWFs. These days, SWFs need to be seen, heard in order to be understood. Why stay away from Davos?
To me ADIA absence from Davos is a very negative sign. Here in Dubai I often hear of Abu Dhabi coming to Dubai financial rescue. The leading newspapers and magazines suggest as much, but now I am thinking may be they are all wrong. ADIA could be absent for the overlapping reasons why Fulds, Blankfein, Thain, Mack etc., are taking leave of Davos this year. The reasons why ADIA was not at Davos previously no longer apply.
No comments:
Post a Comment