(CNN) -- Rescue teams continued searching Sunday for the managing director of the Abu Dhabi Investment Fund, missing after the glider plane he was traveling in crashed into a lake in Morocco on Friday, the state news agency of the United Arab Emirates reported.
Authorities were searching for Sheikh Ahmed bin Zayed Al Nahyan, who is a brother of the ruler of Abu Dhabi and president of the UAE, Sheikh Khalifa bin Zayed Al Nahyan. Sheikh Ahmed is also chairman of the board of trustees of the Zayed Foundation for Charity and Humanitarian Works, said WAM, the news agency.
The plane went down in the northwestern city of Skhirat, according to Morocco's official news agency, MAP.
The pilot was rescued and was in stable condition Sunday, WAM said.
Forbes' 2009 rankings of "The World's Most Powerful People" rated the missing sheikh at No. 27.
The sovereign-wealth fund, which was established in 1976, is owned by the government of Abu Dhabi.