Abu Dhabi crown prince to chair new sovereign entity

Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan will chair the newly launched L’imad Holding Co., which backed Paramount Global’s stalled bid to acquire Warner Bros. Discovery.

Jassem Al Zaabi was named managing director and CEO, the Abu Dhabi media office said in a statement. He currently chairs various entities and companies in Abu Dhabi, including the emirate’s finance department and Abu Dhabi-listed telco e&.

Other board members are Mubadala group CEO Khaldoon Khalifa Al Mubarak, Waleed Al Mokarrab Al Muhairi, Ahmed Al Mazrouei, Mohamed Al Shorafa, Saif Saeed Ghobash and Kamal Almaazmi, the statement added.

The Paramount bid was also supported by Saudi Arabia’s Public Investment Fund, Qatar Investment Authority and Affinity Partners, the company led by US president Donald Trump’s son-in-law Jared Kushner.

The Warner Bros. board has recommended shareholders reject a hostile takeover offer and stick with Netflix. 

The sovereign investment platform’s mandate is to support sustainable economic growth, diversify revenue sources and achieve optimal investment returns for the emirate.

L’imad develops and manages a diversified portfolio of assets and projects across various sectors within the UAE and internationally, including infrastructure and real estate, financial services and asset management, advanced industries and technologies, urban mobility and smart cities.

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In October, Abu Dhabi-listed International Holding Company divested its 42.54 percent stake in real estate company Modon Holding to L’imad Holding.  

Gulf sovereign wealth funds invested a record $119 billion in 2025 as the region spent a chunk of its energy profits buying into tech companies, infrastructure and businesses that may develop domestic economies.

Abu Dhabi’s existing sovereign wealth funds include Adia, Mubadala and ADQ.