The Abu Dhabi Investment Company this month launched its Multi-Strategy Hedge Fund with US$60 million in initial equity. The diversified fund of funds will focus on investing across a range of underlying absolute return and relative value strategies, according to the firm.

“The ADIC Multi-Strategy Hedge Fund is underpinned by clear objectives coupled with a rigorous investment process and risk management, and builds upon an exceptional track record in managing alternative assets portfolios,” stated Mohammed Salih al-Hashemi, director of asset management. “Through this fund, investors can enjoy unique access to leading specialist global alternative asset managers whilst benefiting from diversification across a wide range of hedge funds strategies.”

Details about the fund’s underlying strategies and fee structure could not be obtained by press time.

ADIC is a government owned company established in 1977.