L'IMAD Holding

According to UAE state media, AGBI, and Global Finance Magazine reporting summarized in the Round 6 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.

According to the Round 6 finding record, 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.

Analysis of the Round 6 finding record indicates that the consolidation is documented at the holding-entity level rather than at the operating-asset level: the finding record does not list which specific ADQ portfolio companies, platforms, or downstream investments rolled into L'IMAD, 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 Round 6 record ¹.

According to the Round 6 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 Round 6 finding record names Jassem Mohamed Bu Ataba Al Zaabi as managing director and chief executive officer ¹.

According to the Round 6 finding record on Khaldoon Khalifa Al Mubarak's 2025 board roster, Khaldoon Al Mubarak is named directly on the L'IMAD Holding board ². According to that record, Khaldoon Al Mubarak's other concurrent positions include 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. Cross-reference of these concurrent positions indicates that Khaldoon Al Mubarak's L'IMAD seat sits inside a wider directorship roster that already spans the Mubadala pillar and several Tahnoon-chaired vehicles ².

The Round 6 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.

According to the Round 6 meta-synthesis, the Supreme Council for Financial and Economic Affairs oversees three sovereign-investment pillars: the Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company, and L'IMAD Holding ³. Analysis of the synthesis treats the three-pillar configuration as a structural revision of 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.

According to the same meta-synthesis, two horizontal scaffolding layers operate across the three pillars. According to the same meta-synthesis, the first is a regulatory layer represented by Mohamed Ali Al Shorafa Al Hammadi, who chairs the Abu Dhabi Securities Exchange and the Securities and Commodities Authority and serves as Vice Chairman of the Abu Dhabi Global Market ³. According to the same synthesis, the second is a US-listing layer represented by Essa Kazim, who according to the synthesis serves as a Nasdaq director through Borse Dubai ³. Cross-reference of the pillar-and-scaffolding model in the synthesis indicates 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.

According to the Round 6 meta-synthesis, the 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. Examination of this 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.

According to the Round 6 finding record, 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 Round 6 evidence set; the consolidation is documented at the holding-entity level rather than at the operating-asset level ¹.

Analysis of the Round 6 record indicates that any specific operating-company attribution to L'IMAD requires 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 Round 6 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.

According to the Round 6 finding record, 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. Cross-reference of this retained-portfolio inventory with the L'IMAD chairmanship transfer indicates that the consolidation is best characterized in the available record as a generational portfolio bifurcation rather than as a removal of the prior chair from the broader sovereign-investment architecture ¹.

According to the Round 6 meta-synthesis, the structural separation places several Tahnoon-network entities relevant to the broader investigation outside the L'IMAD perimeter, including MGX, which the synthesis identifies 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. Analysis of the meta-synthesis indicates that 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.

According to the Round 6 meta-synthesis, the cross-pillar bridging effect between L'IMAD, ADIA, and Mubadala is described in the synthesis as durable through institutional roles rather than through individual chair positions, summarized in the synthesis as 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.

Analysis of the Round 6 finding record indicates that the relevance of L'IMAD Holding to the investigation runs through three structural channels ³. According to the meta-synthesis, 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, which the Round 6 meta-synthesis identifies as the cross-network unifying sponsor in the prior two-pillar reading ². Third, according to the same meta-synthesis the regulatory and US-listing scaffolding identified in the synthesis — Mohamed Ali Al Shorafa Al Hammadi at ADX, SCA, and ADGM, and Essa Kazim at Nasdaq via Borse Dubai — operates across all three SCFEA pillars and is therefore in principle available to L'IMAD-perimeter activity on the same terms as ADIA and Mubadala activity ³.

According to the Round 6 meta-synthesis, the resignation of Sultan bin Sulayem from DP World on February 13, 2026, after the Department of Justice Epstein release is characterized in the synthesis as 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. Analysis of the meta-synthesis indicates that the L'IMAD consolidation, occurring approximately one month before the bin Sulayem resignation, 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 Round 6 finding record indicates that the dossier-level question relevant to the investigation is 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 finding set and is recorded under open questions ³.