Abu Dhabi’s new sovereign fund L’imad working with Boston Consulting Group
Abu Dhabi’s new sovereign fund L’Imad is overhauling its executive ranks and reorganising parts of its portfolio as the more than $300 billion investor prepares to play a more central role in the emirate’s economic and strategic ambitions. Boston Consulting Group is supporting the strategic transformation.
Established last year, L’Imad is one of Abu Dhabi’s largest sovereign investment vehicles, alongside Mubadala and ADIA. The fund was significantly expanded earlier this year after the Abu Dhabi government integrated ADQ – the sovereign holding company founded in 2018 – into L’Imad, creating a larger investment group with more than $300 billion in assets and over 250 subsidiaries.
L’Imad’s diversified portfolio spans operational, developmental, industrial, and financial assets, with investments in companies including Etihad Airways, PureHealth, Etihad Rail, Abu Dhabi Ports, McLaren, and Louis Dreyfus. The fund is chaired by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan.
According to people familiar with the matter cited by Reuters, L’Imad has launched a broad reorganisation of parts of its portfolio aimed at strengthening investment opportunities and financial performance, enhancing governance, and improving its long-term value to the UAE economy.
The restructuring extends to the fund’s leadership team. Reuters reported that several executives who transferred from ADQ following the integration have been asked to reapply for their positions as part of a broader review of management roles, signalling a significant reshaping of the organisation.
The changes also affect investment and operational functions. While most employees have transitioned into the combined entity, management is seeking to simplify reporting lines, remove overlapping responsibilities, and create a more integrated operating model. According to one of the sources, the reorganisation is expected to affect headcount, contributing to a degree of uncertainty within the organisation.
As part of its evolution, L’Imad is also strengthening its international capabilities, particularly in the United States, where it has recruited executives from several leading Wall Street institutions in recent months.
In its expanded and revitalised form, L’Imad is expected to become a cornerstone of Abu Dhabi’s investment strategy, with a broader mandate to support the emirate’s ambitions in defence, infrastructure, and strategic investments across key international markets, including the United States and China.
Boston Consulting Group
Reuters also reported that Boston Consulting Group (BCG) is supporting L’Imad’s transformation programme, including aspects of the new organisational design and the recruitment of senior leadership.
According to the sources, BCG is assisting with executive hiring through a structured selection process that begins with rigorous candidate screening, followed by multiple rounds of interviews before finalists meet with the fund’s senior leadership.
BCG has long-standing relationships with sovereign wealth funds across the Gulf region. The consulting firm has also advised Saudi Arabia’s Public Investment Fund on a range of strategic initiatives and has played a key role in helping governments establish and transform sovereign wealth funds into vehicles that drive economic diversification and long-term national development.
