The World's 3rd Largest Sovereign Wealth Fund Makes Huge Plans In A Small Town
When the Abu Dhabi Investment Authority bought two slightly tired shopping centres in Slough, UK, for £130M in 2016, it was a bit of a head-scratcher.
First, shopping centres. Even in 2016, before things got really bad in retail, global investors like ADIA were selling rather than buying shopping centres.
And Slough? In the past few years ADIA has been buying and building in Paris, New York and other global gateway cities. Slough, a town of 161,000 people about half an hour west of London — a town known as the unsexy setting of the UK version of "The Office" — felt a little off-pitch.
But the plans of the world's third-largest sovereign wealth fund, with $828M of assets, are starting to become clear. And those plans are huge. They highlight two things that are becoming increasingly important across the world to investors like ADIA:…
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