Business | Banking
AMIF expects to raise $1b for infrastructure
The Macquarie Group (Macquarie) and Abu Dhabi Commercial Bank (ADCB) on Tuesday said they expect to raise $1 billion (Dh3.67 billion) for an infrastructure fund focused on investing in the Gulf region, the Middle East and North Africa.
- Agencies
- Published: 23:30 December 16, 2008
Hong Kong: The Macquarie Group (Macquarie) and Abu Dhabi Commercial Bank (ADCB) on Tuesday said they expect to raise $1 billion (Dh3.67 billion) for an infrastructure fund focused on investing in the Gulf region, the Middle East and North Africa.
An initial cornerstone investment of $500 million has been made by Al Hail Holding, a UAE-based investor and developer. The fund, called ADCB Macquarie Infrastructure Fund (AMIF), is accepting other regional investors.
It has raised $630 million so far.
The fund said its current investor base comprises institutions in Qatar, Kuwait and South Korea.
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