Abu Dhabi SWF invests $7.5 billion in Citigroup

Abu Dhabi Investment Authority, the world's biggest sovereign wealth fund, has bought an equity stake in Citigroup, the world's biggest bank, of up to 4.9% for $7.5 billion it emerged on Monday.

The fund will get convertible stock in Citigroup, with an 11% yield, a little higher than the yield on the bank's common shares. The fund's stock must be converted into common shares at a price of $31.83 to $37.24 a share between March 2010 and September 2011.

Citigroup made it clear that the fund woul