Abu Dhabi Royal Sheikh Tahnoon bin Zayed Al Nahyan is set to make a substantial investment in banker Rajeev Misra's new $6.8 billion vehicle.
This move comes as part of Sheikh Tahnoon's broader strategy to expand his financial influence and global investments. In recent months, Sheikh Tahnoon has gained control of the UAE's largest sovereign wealth fund, overseeing assets nearing $1.5 trillion. With his newfound financial clout, he has embarked on a mission to fund various ventures, with a particular focus on technology and finance, reported Bloomberg.
Known for his diverse interests, which include Brazilian jiu-jitsu, cycling, and chess, Sheikh Tahnoon has effectively become the de facto business chief of the Al Nahyan family. His influence extends to the UAE's national security, where he serves as the national security adviser and deputy ruler, all while being the brother of the country's president.
One of his prominent ventures includes a significant investment in ByteDance Ltd, the Chinese owner of TikTok. He has also launched a $10 billion fund to target opportunities in the tech sector. His latest endeavor involves supporting Rajeev Misra's $6.8 billion vehicle, further solidifying his position as a global dealmaker.
While Sheikh Tahnoon's financial firepower is unusual even in the oil-rich Persian Gulf, he faces challenges in navigating complex M&A regulations overseas. National security reviews have become a potential hurdle, especially in deals involving international investors with ties to the Chinese government. Despite these obstacles, his influence continues to grow, and his strategic investments are shaping the UAE's economic statecraft on a global scale.
The new investment reflects his commitment to expanding his financial influence and global investments.
Under Sheikh Tahnoon's leadership, the UAE has recognised the importance of financial strength in achieving its strategic goals. He has become a key strategist behind various economic statecraft tools and foreign policy support through economic means.
Sheikh Tahnoon explored the acquisition of Standard Chartered Plc and Lazard Ltd earlier this year, showcasing his ambitions in the finance sector. Other prominent investments include an allocation to ByteDance Ltd, a $10 billion tech-focused fund, an agreement to support Rajeev Misra's $6.8 billion vehicle, and a partnership with billionaire banker Jaime Gilinski for the takeover of Colombia's largest food-maker. He is also collaborating with billionaire Ray Dalio.
Despite the challenges posed by the US Committee on Foreign Investment on international investments with ties to the Chinese government, Sheikh Tahnoon's entities have shown a preference for emerging markets.
G42's tech fund is expanding its presence in Asian cities, focusing on investment opportunities in technology. His private investment firm, Royal Group, has a keen interest in India's growth prospects.
Moreover, G42 has advanced discussions to expand its human genome project to countries in Africa and Asia, with additional markets of interest, including the US, Europe, and Latin America. These efforts align with Abu Dhabi's strategy to leverage its financial influence to draw more billionaires and extend its geopolitical reach into significant markets globally.
Karen Young, a senior research scholar at Columbia University's Center on Global Energy Policy, told Bloomberg that Sheikh Tahnoon is the "strategist behind multiple economic statecraft tools and the ability to use economic means of foreign policy support."
"The UAE leadership has recognised its most important source of statecraft is financial. It has the economic means to secure itself, to project power and to shape the politics around it in ways that it could never achieve with its small size or military power alone," she added.