Abu Dhabi's ADQ launches investment platform with Australia's Plenary

Dubai: The Abu Dhabi fund manager ADQ and Australia’s Plenary Group have launched a new entity to invest and co-develop public and social infrastructure projects in the Middle East and Central Asia.

The new entity, Plenary Middle East, will make use of public-private partnerships to take on such projects in target geographies.

The Plenary Group has ‘already achieved early success’ in the UAE, having been involved in the development of the country’s first schools under a PPP framework. This was done in alliance with Abu Dhabi Department of Education and Knowledge. Plenary recently delivered three schools that combined provide education infrastructure for more than 5,000 students.

“The establishment of Plenary Middle East aligns with ADQ’s focus on building world-class foundational systems and infrastructure essential to the functioning of economies and societies,” said Hamad Al Hammadi, Deputy Group CEO at ADQ.

The new platform follows ADQ’s acquisition of a 49% stake in Plenary Group in April 2024, which was the ‘first major inbound investment from the UAE into an Australian company since the signing of the Australia-UAE Comprehensive Economic Partnership Agreement’.