Simplify the following text for a Grade 10 native English-speaking person.
Original: The Abu Dhabi United Group for Development and Investment ( ADUG ) is a United Arab Emirates ( UAE ) private equity company owned by Sheikh Mansour bin Zayed Al Nahyan , member of the Abu Dhabi Royal Family and Minister of Presidential Affairs for the UAE .
Simplified: The Abu Dhabi United Group for Development and Investment ( ADUG ) is a United Arab Emirates ( UAE ) private equity company owned by Sheikh Mansour bin Zayed Al Nahyan . He is a member of the Abu Dhabi Royal Family .