Word: dhabi
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...body of Sheik Ahmed bin Zayed al-Nahayan--half brother of United Arab Emirates President and Abu Dhabi ruler Sheik Khalifa bin Zayed al-Nahayan--was retrieved from a Moroccan lake on March 31, five days after his glider crashed there. The death of Sheik Ahmed--managing director of the Abu Dhabi Investment Authority (ADIA), one of the world's largest sovereign wealth funds--has raised fears of a power struggle among his 17 surviving brothers for control of ADIA...
...Dhabi...
Despite the tensions, the dynastic tussle is likely to be veiled. Issues of succession in conservative gulf kingdoms are customarily dealt with behind firmly closed doors, and Abu Dhabi - more traditional than its showy neighbor and U.A.E. constituent, Dubai - is hypersensitive about its image and extremely unlikely to let any split within its royal family become public. ADIA's holdings are unlikely to be affected, primarily because Abu Dhabi's wealth is still Abu Dhabi's wealth regardless of who manages its sovereign fund, and because its investments rarely exceed 5% stakes in any given company...
...whoever assumes the helm of ADIA will be of keen interest to Dubai, according to Davidson. Apart from the troubles with the Burj Khalifa, debt-laden Dubai received a $10 billion bailout late last year from Abu Dhabi to pay off the debts of some of its most troubled state-run companies. "Dubai will be hoping that whoever replaces [Sheik Ahmed] will be someone who is more open to assisting Dubai, rather than this drip-feed of financial assistance Abu Dhabi has been giving Dubai, little by little, humiliating them every step of the way," Davidson says. Sheik Ahmed...
Dubai's ruler, Sheik Mohammed bin Rashid al-Maktoum, might be pinning his hopes on his son-in-law Sheik Mansour, who is one of the Abu Dhabi crown prince's full brothers. Davidson says "there's no doubt" that he's the one member of the al-Nahayan clan that Dubai would like to see take charge. But Sheik Mansour already controls IPIC. Will he be given the reins of both of the emirate's massive kitties? It's improbable but not impossible, especially in a country where too much is never enough...