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Sovereign Wealth Fund
adia.ae

Investments

50

Portfolio Exits

10

Partners & Customers

2

Service Providers

1

About Abu Dhabi Investment Authority

Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund. The firm carries out its investment program independently and without reference from the Government of Abu Dhabi. ADIA funding sources derive from oil, especially from the Abu Dhabi National Oil Company (ADNOC). The fund manages a diversified global investment portfolio across more than two dozen asset classes and sub-categories that includes quoted equities, fixed income, real estate, private equity, alternatives, and infrastructure. It was founded in 1976 and is based in Abu Dhabi, UAE.

Headquarters Location

211 Corniche Post Office Box 3600

Abu Dhabi,

United Arab Emirates

+971-2-415-0000

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Latest Abu Dhabi Investment Authority News

Dechra board accepts £4.45 billion private equity bid

Jun 2, 2023

Dechra Pharmaceuticals The board of Dechra has accepted a bid by Swedish private equity fund EQT and Luxinva, a wholly-owned subsidiary of the Abu Dhabi Investment Authority, which values the Cheshire-headquartered veterinary supplies business at £4.45 billion. The accepted offer price is less than EQT first bid for the business, but recent stocking issues in the US and the UK have hit the expected prospects. The bid implies an enterprise value of £4,882 million and a multiple of approximately 25.9 times Dechra’s EBITDA for the twelve months ended 31 December 2022 of £188 million. EQT was formed by trustees of the Wallenberg family, one of Europe’s most powerful banking and industrial dynasties. In a joint statement to the stock market this morning EQT said it believes it is “well positioned to support Dechra’s next phase of growth by virtue of its insights and understanding developed from existing and former investments across the animal health value chain. EQT has a strong track record of deploying capital and expertise into growth-orientated businesses and supporting their management teams in achieving their strategic ambitions.” Dechra, which floated in 2000, will leave the stock market on completion of the deal and the new owners will continue to look for acquisition opportunities or “inorganic opportunities”. The owners add: “Dechra is better able to achieve its growth potential as a private company than as a public company.” The new owners also pledge to support Dechra’s “strong management team”. Dechra was formed 26 years ago and is listed on the London Stock Exchange’s Main Market in the Premium segment. Elizabeth Alison Platt, the Chair of Dechra, said: “Since IPO in 2000, the successful pursuit of our growth strategy under Ian Page’s leadership has seen Dechra develop from a specialist UK only veterinary distribution business into a global veterinary pharmaceuticals and related products business, ranked seventh globally by revenues, with operations in 26 countries and over 2,400 employees. Dechra is now recognised as a global leader in therapeutic areas such as endocrinology and topical dermatology, as well as being an innovator in specialisations such as the treatment of equine lameness and differentiated generics. “The Dechra Board considers EQT, together with ADIA, to be highly experienced investors with a strong sector understanding who will, we believe, prove to be responsible and supportive owners of Dechra and who can build on this legacy and further accelerate the Dechra Group’s growth. As such, it is our view that accepting this proposal represents the best interests of all stakeholders and in particular represents a compelling opportunity for shareholders to realise, in cash and with certainty, Dechra’s potential for future value creation.” Anthony Santospirito, Partner in the EQT Private Equity advisory team, said: “Dechra is a high-quality, innovative business founded in the UK with an impressive global footprint. With medical innovation accelerating and pet ownership increasing, the animal health sector is expected to benefit from long-term growth and we believe Dechra is well positioned to participate in this significant opportunity. “We plan to support Dechra’s talented management team accelerating their business strategy and long-term growth in an increasingly competitive environment by providing, where needed, additional investment in its innovative pipeline and further supporting global expansion. We believe that private ownership will enable Dechra’s management team to take a longer-term view as it focuses on accelerating growth.” Swedish investor EQT manages EUR 119 billion in fee-generating assets across private equity, infrastructure and real estate and has investment advisory teams based in offices in 20 countries across the UK, Europe, Asia Pacific and the Americas and claims a “distinctly Scandinavian approach to doing business”. Luxinva is a wholly-owned indirect subsidiary of the Abu Dhabi Investment Authority formed for the benefit of the Emirate of Abu Dhabi. It manages a substantial global diversified portfolio of investments, with assets under management in excess of US$100 billion. Click here to sign up to receive our new South West business news... Previous Article

Abu Dhabi Investment Authority Investments

50 Investments

Abu Dhabi Investment Authority has made 50 investments. Their latest investment was in Purplle as part of their Secondary Market on May 5, 2023.

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Abu Dhabi Investment Authority Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/24/2023

Secondary Market

Purplle

$50M

Yes

3

3/16/2023

Series J - III

Lenskart

$500M

Yes

4

3/3/2023

Unattributed - IV

Greenko

$700M

No

3

1/19/2023

Series C

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$99M

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10

10/21/2022

PIPE - II

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$99M

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10

Date

5/24/2023

3/16/2023

3/3/2023

1/19/2023

10/21/2022

Round

Secondary Market

Series J - III

Unattributed - IV

Series C

PIPE - II

Company

Purplle

Lenskart

Greenko

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Amount

$50M

$500M

$700M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

3

4

3

10

10

Abu Dhabi Investment Authority Portfolio Exits

10 Portfolio Exits

Abu Dhabi Investment Authority has 10 portfolio exits. Their latest portfolio exit was GoTo on April 11, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/11/2022

IPO

$99M

Public

4

11/18/2021

IPO

$99M

Public

1

8/23/2021

Reverse Merger

$99M

10

3/31/2021

Acquired - III

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$99M

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10

2/6/2020

IPO - II

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$99M

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10

Date

4/11/2022

11/18/2021

8/23/2021

3/31/2021

2/6/2020

Exit

IPO

IPO

Reverse Merger

Acquired - III

IPO - II

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

Public

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Sources

4

1

10

10

10

Abu Dhabi Investment Authority Acquisitions

16 Acquisitions

Abu Dhabi Investment Authority acquired 16 companies. Their latest acquisition was Zendesk on November 22, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

11/22/2022

Series D

$99M

$100.5M

Take Private

6

6/29/2022

Private Equity

$99M

Acq - Fin

1

3/1/2022

Other

$99M

$2,486.09M

Take Private

7

1/20/2022

Private Equity

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$99M

$99M

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10

1/20/2022

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$99M

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10

Date

11/22/2022

6/29/2022

3/1/2022

1/20/2022

1/20/2022

Investment Stage

Series D

Private Equity

Other

Private Equity

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$100.5M

$2,486.09M

$99M

Note

Take Private

Acq - Fin

Take Private

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Sources

6

1

7

10

10

Abu Dhabi Investment Authority Partners & Customers

2 Partners and customers

Abu Dhabi Investment Authority has 2 strategic partners and customers. Abu Dhabi Investment Authority recently partnered with AGL Credit Management on March 3, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

3/20/2019

Vendor

United States

1

4/30/2015

Partner

Hong Kong

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10

Date

3/20/2019

4/30/2015

Type

Vendor

Partner

Business Partner

Country

United States

Hong Kong

News Snippet

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Sources

1

10

Abu Dhabi Investment Authority Service Providers

1 Service Provider

Abu Dhabi Investment Authority has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

Partnership data by VentureSource

Abu Dhabi Investment Authority Team

7 Team Members

Abu Dhabi Investment Authority has 7 team members, including current Founder, Chief Operating Officer, Sarika Periwal.

Name

Work History

Title

Status

Sarika Periwal

Founder, Chief Operating Officer

Current

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Name

Sarika Periwal

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Work History

Title

Founder, Chief Operating Officer

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Status

Current

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