AMIF expects to raise $1b for infrastructure

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.