Gulf sheikh Ahmed bin Zayed al-Nahyan missing after plane crash

[satya]

Gulf sheikh Ahmed bin Zayed al-Nahyan missing after plane crash
A Gulf prince who ran the world's biggest sovereign wealth fund and whose older brother is the ruler of Abu Dhabi was last night reported missing in a plane crash in Morocco.

By Richard Spencer, in Dubai
Published: 10:03PM GMT 26 Mar 2010

Sheikh Ahmed bin Zayed al-Nahyan was in a glider which came down in a lake, according to the official news agency of the United Arab Emirates, WAM.

The pilot was recovered safe but a search was under way for his passenger.

Sheikh Ahmed, 41, is the younger brother of Sheikh Khalifa bin Zayed, who is ruler of Abu Dhabi and president of the UAE.

He is not immediately in line to the throne. However, he has considerable sway as managing director of the Abu Dhabi Investment Authority which, with assets estimated at between $300bn and $800bn, is considered the biggest wealth fund of its type in the world.

It is the most discreet of the Abu Dhabi funds, avoiding the high-profile investments of its sister state investment companies, Aabar, which has stakes in Daimler and the Brawn Formula One team, and Mubadala, the main vehicle for strategic development.

Instead it seeks to spread the risk of Abu Dhabi's reserves, built up from its oil wealth, with stakes of less than 5pc in companies around the globe.

Forbes magazine put Sheikh Ahmed at number 27 on its list of the world's most powerful people.

http://www.telegraph.co.uk/finance/news ... crash.html