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
  • Gulf News

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.

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

More from Banking

  1. New smart card launched

  2. Banks face increase in funding costs

  3. HSBC underlying profits up sharply

  4. Laws are drawn from best practices

All articles in Banking

More from Business

Gulf News
Popular in Business
Way to go this DSF
XPRESS

Way to go this DSF

A fun-filled route to guide you to all the happening dos in town

Business Editor's choice