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What's Sheikin'?


Boo tries to break some big news on UAE royal family.

The Abu Dhabi Investment Authority (ADIA) has long lurked in the- shadows of secrecy. No one knows exactly how much money the sovereign wealth fund controls. Few know where most of the money is invested. With no communications department, ADIA isn't particularly easy to get on the phone, so in a way, it's a lot like your everyday utility company. Just slightly richer.

Abu Dhabi-the wealthiest of seven emirates dotting the coast of the Persian Gulf-brings in at least $50 billion a year on oil. Most of that money disappears into the ADIA black hole, where a few key players decide where it ultimately ends up.

But after making a $7.5 billion investment in Citigroup (C), and a large investment in Toll Brothers (TOL), the ADIA seems to be showing a few of its cards. Unsurprisingly, ADIA's massive investments in major US institutions have some in the government concerned. Last week, a top official from Treasury met with the ADIA to establish formal regulations for its American investments. And Senator Evan Bayh, chairman of the Senate subcommittee on security and international trade and finance, traveled to Abu Dhabi to meet with ADIA executives.

As investing in America becomes cheaper and cheaper, expect to hear more about these foreign investments. The first step, as always, is to learn who the major players are. And that's exactly what Hoofy and Boo are here to do.
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