DEFINITION of 'Abu Dhabi Investment Council - ADIC'
A sovereign wealth fund owned by Abu Dhabi, the capital of the United Arab Emirates (UAE). It is wholly owned and administered by the UAE. The Abu Dhabi Investment Council is funded by revenue from the country's oil industry, and invests those revenues in a wide range of asset classes, including equities, debt, real estate, infrastructure and private equity.
Its sister fund is the Abu Dhabi Investment Authority (ADIA), which is one of the world's largest sovereign wealth funds.
BREAKING DOWN 'Abu Dhabi Investment Council - ADIC'
The Abu Dhabi Investment Council was established in 2007. While the fund does invest in assets across the globe, the primary focus of the ADIC is to invest in Abu Dhabi's economy. Domestic assets include banks, investment houses and insurance companies.