Macro hedge fund Deem receives additional approximately $1 billion from Abu Dhabi sovereign fund ADIC

CoinFeed July 10 news, according to Bloomberg, macro hedge fund Deem Global recently received a new capital injection of approximately $1 billion from the Abu Dhabi Investment Council (ADIC), increasing its assets under management to approximately $3.8 billion. ADIC, an independent entity under the sovereign fund Mubadala, is expanding its allocation to macro strategy hedge funds, with a target hedge fund exposure of about $15 billion, and has participated in fundraisings for firms such as ExodusPoint. Since starting with $300 million in 2022, London-headquartered Deem's assets have grown more than tenfold, with most funds locked up for two years, after which investors can redeem up to 25% per quarter. Deem plans to reopen to external investors as early as next year.