Cash-Rich, Publicity-Shy, Abu Dhabi Fund Draws Scrutiny

Abu Dhabi has about 9 percent of the world’s oil and 0.02 percent of its population. The result is a surfeit of petrodollars, much of which is funneled into a secretive, government-controlled investment fund that is helping to shift the balance of power in the financial world.
the fund recently formed a small team that is now buying big stakes in Western companies. This unit masterminded ADIA’s $7.5 billion investment in Citigroup, the nation’s largest bank, in November. It has also taken a large position in Toll Brothers, one of the country’s biggest home builders.
ADIA is the largest of the world’s sovereign wealth funds, giant pools of money controlled by cash-rich governments, particularly in Asia and Middle East. But Abu Dhabi, the wealthiest of the seven Arab emirates, says little about its fund. Few outsiders know for sure where ADIA invests — or even how much money it controls. And secrecy breeds hyperbole; some estimates of the fund’s size surpass $1 trillion. More...