L'IMAD Holding

According to UAE state media, AGBI, and Global Finance Magazine reporting summarized in the finding record, L'IMAD Holding Company was formed in January 2026 by resolution of the Supreme Council for Financial and Economic Affairs (SCFEA) ¹. The same SCFEA resolution consolidated the prior portfolio of ADQ (Abu Dhabi Developmental Holding) into the new entity ¹.

The consolidated ADQ portfolio at the time of the resolution comprised approximately 263 billion US dollars in assets under management, 25 investment companies and platforms, and more than 250 subsidiaries ¹. The post-consolidation total assets under management figure for L'IMAD is reported in the same record at approximately 300 billion US dollars, indicating that additional assets beyond the inherited ADQ portfolio were folded into the new structure, although the finding record does not enumerate the specific incremental sources ¹.

The consolidation is documented at the holding-entity level rather than at the operating-asset level. Which specific ADQ portfolio companies, platforms, or downstream investments rolled into L'IMAD is not listed in the record, and any subsidiary-level inventory therefore falls outside the verified evidence set in this dossier ¹. The exact registered legal form of L'IMAD Holding Company, its commercial-registration filings, and any English-language official corporate disclosures beyond the SCFEA-resolution coverage are not present in the record ¹.

According to the finding record sourced to UAE state media and Gulf-region press, Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and eldest son of UAE President Mohamed bin Zayed Al Nahyan, serves as Chairman of L'IMAD Holding ¹. The chairmanship was transferred to him from his uncle Sheikh Tahnoon bin Zayed Al Nahyan, who chaired the predecessor entity ADQ prior to the January 2026 SCFEA resolution ¹. The finding record names Jassem Mohamed Bu Ataba Al Zaabi as managing director and chief executive officer ¹.

The finding record on Khaldoon Khalifa Al Mubarak's 2025 board roster names Khaldoon Al Mubarak directly on the L'IMAD Holding board ². That record lists his other concurrent positions as managing director and group chief executive officer of Mubadala Investment Company, Chairman of Abu Dhabi Commercial Bank, Vice Chairman of MGX, board member of ADNOC, G42, Aldar Properties, First Abu Dhabi Bank, and Emirates Foundation, Chair of the board of trustees of Mohamed bin Zayed University of Artificial Intelligence, Secretary General of the AI and Advanced Technology Council, and Chairman of the Executive Affairs Authority ². Taken together, these positions place Khaldoon Al Mubarak's L'IMAD seat inside a wider directorship roster that already spans the Mubadala pillar and several Tahnoon-chaired vehicles ².

The finding record does not enumerate the remainder of the L'IMAD board or its committee structure, and any further board composition therefore falls outside the verified evidence set in this dossier ¹.

The records show the Supreme Council for Financial and Economic Affairs overseeing three sovereign-investment pillars: the Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company, and L'IMAD Holding ³. Analysis of the synthesis revises an earlier two-pillar reading in which Mubadala had been identified as the cross-network unifying sponsor; in the upgraded model, L'IMAD stands as a separate third pillar carrying the consolidated ADQ-successor portfolio at approximately 300 billion US dollars in assets under management ³.

Two horizontal scaffolding layers are, according to the same synthesis, identified as operating across the three pillars ³. The first is a regulatory layer represented by Mohamed Ali Al Shorafa Al Hammadi, who the records show chairs the Abu Dhabi Securities Exchange and the Securities and Commodities Authority and serves as Vice Chairman of the Abu Dhabi Global Market ³. The second is a US-listing layer represented by Essa Kazim, who the records show serves as a Nasdaq director through Borse Dubai ³. Because this scaffolding spans all three pillars, analysis suggests that L'IMAD activity at the operating-company level can in principle move through the same regulatory and listing infrastructure as the ADIA and Mubadala pillars ³.

Cross-pillar governance is formally maintained at L'IMAD by the seat held by Khaldoon Al Mubarak, who serves concurrently as Mubadala managing director and group chief executive officer and as a L'IMAD board member ². That overlap indicates that the structural separation of L'IMAD from the Tahnoon retained-portfolio cluster does not by itself sever its governance link to Mubadala ².

The L'IMAD consolidation absorbed approximately 25 investment companies and platforms and more than 250 subsidiaries from the predecessor ADQ portfolio ¹. The finding record does not enumerate these subsidiaries by name, and no L'IMAD-level subsidiary inventory was generated as part of the evidence set; the consolidation is documented at the holding-entity level rather than at the operating-asset level ¹.

Any specific operating-company attribution to L'IMAD would require verification against ADQ's pre-consolidation portfolio disclosures and against subsequent L'IMAD or SCFEA filings rather than against the finding record itself; the dossier therefore does not list specific named subsidiaries as L'IMAD-perimeter assets ¹. The record likewise does not enumerate the incremental assets that account for the difference between the inherited ADQ figure of approximately 263 billion US dollars and the post-consolidation L'IMAD figure of approximately 300 billion US dollars ¹.

The January 2026 SCFEA resolution that created L'IMAD did not strip Sheikh Tahnoon bin Zayed Al Nahyan of his other Abu Dhabi sovereign-investment chairmanships; he retained chair positions at the Abu Dhabi Investment Authority (ADIA), MGX Fund Management Limited, G42, International Holding Company, Royal Group, First Abu Dhabi Bank, and the AI and Advanced Technology Council ¹. Read against the chairmanship transfer, this retained-portfolio inventory points to a generational portfolio bifurcation rather than a removal of the prior chair from the broader sovereign-investment architecture ¹.

Analysis of the synthesis places several Tahnoon-network entities relevant to the broader investigation outside the L'IMAD perimeter, including MGX, identified in the finding record as having deployed two billion US dollars of World Liberty Financial USD1 to Binance in May 2025, and the Aryam Investment 1 stake in World Liberty Financial ³. According to the same synthesis, the L'IMAD perimeter and the Tahnoon retained-portfolio perimeter are formally distinct after the January 2026 resolution, although both remain under SCFEA oversight ³.

Cross-reference of the pillar roles indicates that the bridging effect between L'IMAD, ADIA, and Mubadala is durable through institutional positions rather than through individual chairmanships — bridges that outlast principals ³. The seat held by Khaldoon Al Mubarak on the L'IMAD board, concurrent with his Mubadala managing director and group chief executive officer position, is the documented operational mechanism for that bridging in the available finding set ².

Cross-reference of the synthesis identifies three structural channels through which L'IMAD Holding bears on the investigation ³. First, analysis of the synthesis notes that the consolidation places approximately 300 billion US dollars of Abu Dhabi sovereign capital under the chairmanship of the Crown Prince of Abu Dhabi at the same point at which Tahnoon-network exposure to World Liberty Financial, USD1, and related transactions had become a documented investigative thread, with the next-generation portfolio formally compartmentalized away from the Tahnoon retained-portfolio cluster ³. Second, the cross-pillar interlock through Khaldoon Al Mubarak's L'IMAD board seat preserves a direct governance link between L'IMAD and Mubadala, identified as the cross-network unifying sponsor in the prior two-pillar reading ². Third, examination of the same synthesis shows the regulatory and US-listing scaffolding — Mohamed Ali Al Shorafa Al Hammadi at ADX, SCA, and ADGM, and Essa Kazim at Nasdaq via Borse Dubai — operating across all three SCFEA pillars and therefore in principle available to L'IMAD-perimeter activity on the same terms as ADIA and Mubadala activity ³.

The resignation of Sultan bin Sulayem from DP World on February 13, 2026, after the Department of Justice Epstein release is, according to the same synthesis, the first observed visible loss for the Tahnoon network on Epstein-related exposure, with the Nasdaq-via-Borse-Dubai access seat passing to Essa Kazim ³. Because the L'IMAD consolidation occurred approximately one month before the bin Sulayem resignation, analysis suggests it can be read as a pre-positioning structural change rather than as a reactive one, although the available finding set does not establish a documented causal link between the two events ³.

Examination of the finding set leaves open whether any consolidated ADQ subsidiaries had pre-existing exposure to the World Liberty Financial, MGX, or Tahnoon-network transactions documented elsewhere in the investigation, and whether such exposure is carried into the consolidated entity; that question is not resolved in the available record and is recorded under open questions ³.