IL&FS Investment Managers and Abu Dhabi Investment Company to set up US$1 billion private equity fund

IL&FS Investment Managers Ltd has announced that the Company and Abu Dhabi Investment Company (ADIC), promoted by the Government of Abu Dhabi, plan to set up a private equity fund of upto US $ 1 billion to invest in infrastructure assets in the Middle East / North Africa (MENA) region. ADIC and Infrastructure Leasing & Financial Services Ltd are likely to commit around US $ 50 million to the proposed new Fund. The investment manager of the Fund would be a 50:50 JV to be set up by the Company and ADIC, to be staff by both entities.

Abu Dhabi Investment Company, promoted by the Government of Abu Dhabi, was established as Abu Dhabi’s first specialist investment Company in 1977 and has since then grown to become a key market protagonist in investment and investment related activities in the United Arab Emirates and the MENA region. In addition to its capital contribution to the Fund, ADIC will provide its financial expertise towards the syndication and placement of funds and also apply its regional presence towards the promotion and attraction of premium investment opportunities to the Fund. It will also provide investment banking and corporate finance expertise to compliment the Fund’s investment focus.

Source : Equity Bulls

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