The Wall Street Journal reports that the lawsuit, filed by Madoff trustee Irving Picard in U.S. Bankruptcy Court in Manhattan, is seeking to recover transfers allegedly made to Abu Dhabi Investment Authority by Fairfield Sentry, a Fairfield Greenwich Group feeder fund.
"Based on the trustee's investigation to date, approximately $300,000,000 of the money transferred from [Madoff's firm] to Fairfield Sentry was subsequently transferred by Fairfield Sentry to defendant [Abu Dhabi Investment Authority]," the lawsuit said.
The Abu Dhabi Investment Authority was established in 1976 to invest the assets of the Emirate of Abu Dhabi. It doesn't release information on the size of its portfolio but estimates by the Sovereign Wealth Fund Institute puts its value at $627 billion…..
Find out more at http://online.wsj.com/article/SB10001424053111904006104576502970137821018.html
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