ADIC moves into investment banking territory

Abu Dhabi Investment Company, the Middle Eastern sovereign wealth fund, is to compete more directly with investment banks by providing third party advice on mergers and acquisitions with the hire of a senior Rothschild banker.

ADIC has hired Alex Carré de Malberg as head of investment banking and will provide independent advice to third parties on cross-border M&A.

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Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a Billionaire