ADIA selects Innocap for dedicated managed account platform services and will become a shareholder in the Company – INNOCAP – Alternative Investments Platform Services
Summary
Montr\xe9al and New York, January 14, 2025 Innocap Investment Management Inc. (Innocap or the Company) announced today that the Abu Dhabi Investment Authority (ADIA) has selected Innocap to provide dedicated managed account platform services for parts of its hedge fund and equity exposures. A wholly owned subsidiary of ADIA will also become a shareholder in Innocap, with its stake set to increase over the coming years to 10%, at which point Mohammed Sghayer Khalaf Al Qubaisi, Deputy Director of the Alternative Investments Department at ADIA, will join the Innocap board.The ADIA subsidiary joins tenured Innocap shareholders including senior management, Caisse de d\xe9p\xf4t et placement du Qu\xe9bec (CDPQ), BNY, Walter Global Asset Management and BNP Paribas.Innocaps shareholders recognize a clear shift in the industry towards dedicated managed accounts which is notably driven by institutional allocators commitment to their fiduciary duty. The resulting network effect is leading to an increased use of platforms, such as Innocap, as a superior way to access, structure and monitor their alternative investments.ADIA is one of the worlds leading institutional investors, and we are proud to have been selected to provide dedicated managed account platform services. Welcoming ADIA as a shareholder in Innocap also enhances the robustness and diversification of our shareholder base and will increase the momentum of our industry transformation story and drive the growth of our purpose-built technology platform, said Fran\xe7ois Rivard, Chief Executive Officer of Innocap.Mohammed Sghayer Khalaf Al Qubaisi, Deputy Director of the Alternative Investments Department at ADIA, said: Innocaps platform provides ADIA with a more cash efficient structure while allowing for greater investment flexibility for some of its hedge fund and equity exposures. Innocap has developed an industry-leading platform which offers a compelling service to asset owners who are seeking more transparency and capital efficiency.Innocap has identified the Middle East as a key growth market and plans to open an office in Abu Dhabi in 2025.