BREAKING NEWS

Body of UAE fund director found after glider crash

By ASSOCIATED PRESS

MARCH 30, 2010 19:43

DUBAI, United Arab Emirates — Moroccan authorities recovered the body of the director of the world's largest sovereign wealth fund Tuesday, five days after a glider he was riding in plunged into a lake in the North African kingdom.

Sheik Ahmed bin Zayed Al Nahyan, whose glider crashed into a lake south of the Moroccan capital, Rabat, on Friday, was managing director of the Abu Dhabi Investment Authority. He was also a younger brother of the president of the United Arab Emirates.

The 38-year-old Sheik Ahmed was ranked 27th on Forbes' list of the world's most powerful people in 2009. Analysts believe the Abu Dhabi fund he led is the world's largest sovereign wealth fund, with estimates of its size ranging from less than $400 billion to $875 billion and beyond.

The search for his body involved more than 100 divers from Morocco, the Emirates, France, Spain and the United States. Two royal Moroccan helicopters, night vision equipment and a medical helicopter were also used, according to Morocco's state news agency.

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