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Another hedge fund investment from Adic: Mubadala’s investment arm Abu Dhabi Investment Council (Adic) is pledging some USD 1 bn to Singapore-based hedge fund Dymon Asia Capital, backing its expansion across London, Hong Kong, and other markets, Bloomberg reports, citing people it says are in the know. The allocation will be made in tranches.
BACKGROUND- Adic is the independently run, roughly USD 160 bn investment arm of Mubadala Investment Co. Since Saeed Al Mazrouei took over as CEO in late 2023, the fund has pushed into new territory — a secondaries business, larger BTC exposure, and expansion into ins. — all in service of a stated target of 10%+ returns, Bloomberg reported in February.
Hedge funds are the latest leg of that push: Adic has reportedly also invested in ExodusPoint Capital Management and London-based Deem Global and is considering building exposure worth USD 15 bn with global hedge funds. The sovereign investor has previously said it sees value in hedge fund strategies that offer downside protection and risk-adjusted returns across market cycles as it diversifies away from a portfolio built on private equity, real estate, and passive equities toward strategies designed for long-term resilience.
Who’s it investing in this time around? Dymon Asia was founded in Singapore in 2008 by Danny Yong and Keith Tan, with Temasek taking a minority stake in 2014. The firm opened its first Middle East office in Dubai in late 2024. Its growth has outrun its own forecasts: the firm expected to be managing around USD 5 bn by the end of 2026, but assets have nearly doubled to USD 9 bn as of 31 July, making it one of the region’s largest hedge fund operators. Its flagship multi-strategy fund is up 7.5% this year, even after a 6.5% drop during July’s market rout.
It’s looking to scale up: The manager is expanding particularly in commodities and building its London presence while growing its teams across South Korea, Hong Kong, and India.
