UAE Sheikh Tahnoon’s investment firm plans to invest $10 bln in US, Europe: Sources

UAE Sheikh Tahnoon’s investment firm plans to invest $10 bln in US, Europe: Sources

Royal Group, an investment firm controlled by a top Abu Dhabi royal family member, plans to plow as much as $10 billion into US and European stocks and other assets hammered by rising fears of a global recession.

The group, chaired by United Arab Emirates National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan, sees this as an opportunity to offload some of its existing equity holdings, reduce its exposure to riskier assets and broaden its global portfolio, according to people familiar with the matter.

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Although the final strategy is still being drawn up, investments in equities, fixed income and physical assets -- such as real estate -- are all being considered, the people said, asking not to be identified because the plans are private.

Officials at Royal Group didn’t respond to requests for comment. A spokesman for its listed subsidiary, International Holding Company PJSC, said the firm isn’t in a position to comment on any subject on behalf of its shareholders.

A pivot toward the US and Europe would mark a shift in strategy for Sheikh Tahnoon’s firm, which has until recently prioritized investments across the developing world, particularly in