Abu Dhabi fund buys 10.9 percent stake in Hyatt Hotels

Government-owned Abu Dhabi Investment Authority (ADIA) has bought a 10.9 percent stake in Chicago-based Hyatt Hotels Corp, according to a filing with the US Securities and Exchange Commission. The sovereign wealth fund bought 4.76 million Hyatt Class A shares, becoming a minority shareholder in the company.

Hyatt Hotels had issued an initial public offering (IPO) last month, offering 38 million shares at $25 each. The majority shares in the company are owned by the Pritzker family.