Abu Dhabi’s new sovereign fund L’imad working with Boston Consulting Group

Abu Dhabi’s recently expanded sovereign investor L’Imad has begun a wide-ranging overhaul of its executive ranks and parts of its portfolio, enlisting Boston Consulting Group (BCG) to support the transformation as the combined entity prepares to manage more than $300 billion in assets. The reorganisation follows the integration earlier this year of ADQ into L’Imad, creating a larger investment group that now controls over 250 subsidiaries and stakes in strategic 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.

"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,"

The engagement with Boston Consulting Group covers aspects of organisational design and senior recruitment as L’Imad seeks to simplify reporting lines, eliminate overlapping responsibilities, and create a more integrated operating model across its diversified portfolio. Sources familiar with the matter say the portfolio reorganisation is aimed at strengthening investment opportunities and financial performance, enhancing governance, and improving the fund’s long-term contribution to the UAE economy.

Established last year, L’Imad has been positioned alongside other major Abu Dhabi investors such as Mubadala and ADIA. The integration of ADQ — the sovereign holding company founded in 2018 — into L’Imad materially expanded the fund’s scale and remit, bringing together operational, developmental, industrial and financial assets under a single umbrella. With stakes in high-profile companies spanning aviation, health, transport, ports and consumer brands, the enlarged fund is being rebadged as a cornerstone of Abu Dhabi’s strategic investing.

The internal review has extended to the leadership team. Reuters-cited sources say several executives who transferred from ADQ after the integration have been asked to reapply for their roles as part of a broader management review, signalling a significant reshaping of senior management. While most employees have transitioned into the combined entity, the restructuring is expected to affect headcount and has created uncertainty within the organisation as management seeks to align functions and reduce duplication.

L’Imad is also beefing up its international capabilities, with targeted hires in the United States where the fund has recently recruited executives from leading Wall Street institutions. The fund’s expanded mandate is expected to prioritise strategic investments in defence, infrastructure and key international markets such as the United States and China, reflecting Abu Dhabi’s ambitions to deepen economic and strategic ties overseas.

Outlook

• The partnership with BCG signals a methodical approach to rebuilding governance and leadership at scale, with structured candidate screening and multi-stage interviews for senior roles.
• As L’Imad integrates ADQ assets and rationalises reporting lines, the fund will likely continue repositioning parts of its portfolio to boost financial performance and strategic alignment with national priorities.
• Recruitment in international financial centres, particularly the United States, points to a more outward-looking investment posture focused on defence, infrastructure and long-term strategic holdings.