BlackRock’s GIP, ADNOC and Temasek target $30 billion GCC infrastructure pipeline

Dubai: Global Infrastructure Partners, part of BlackRock, will partner with L’IMAD, ADNOC and Temasek to launch a new infrastructure investment platform targeting $30 billion of investments across the Gulf Cooperation Council and Central Asia.

The proposed partnership will focus on energy, transportation, logistics, digital infrastructure, water and waste management, with scope to consider selected opportunities in the wider Middle East and North Africa region.

The strategy is designed to combine equity and debt capital, targeting a diversified portfolio that can generate cash yield and risk-adjusted returns across both new and existing infrastructure assets.

The partnership reflects growing investor interest in the UAE and the wider region, where infrastructure demand is being supported by population growth, urban development, industrial expansion, digitalisation and higher investment in energy security.

The founding partners said the platform will target high-quality infrastructure assets that can support long-term economic value. The strategy will include both greenfield projects, where assets are developed from the ground up, and brownfield opportunities involving existing infrastructure.

“We are pleased to establish this partnership with L’IMAD, ADNOC and Temasek to deepen our longstanding commitment to investing across the GCC and Central Asia region,' said Bayo Ogunlesi, Chairman and Chief Executive Officer of Global Infrastructure Partners. "Today, more than ever, investing in and creating best-in-class infrastructure is a critical driver of economic growth and resilience. We look forward to furthering our joint ambition to enhance innovation and economic growth.”

GIP, which is now part of BlackRock, manages more than $200 billion in assets and invests across energy, transport, digital infrastructure, water and waste management.

L’IMAD, Abu Dhabi’s sovereign investment platform, will be one of the founding partners. The platform was established to support the emirate’s economic foundations and build long-term value through national and international investments.

“Through our partnership with GIP, ADNOC and Temasek, we are combining global investment expertise with local insight and a disciplined approach to capital deployment, focused on supporting the development of resilient assets aligned with long-term regional demand,” said Jassem Bu Ataba Al Zaabi, Managing Director and Group CEO of L’IMAD

The partnership gives Abu Dhabi another platform to attract global capital into sectors linked to economic diversification, industrial development and regional trade flows.

ADNOC’s role in the partnership reflects its broader push to use infrastructure, project delivery and financing expertise to create additional revenue streams while supporting energy security.

Dr Sultan Ahmed Al Jaber, ADNOC Managing Director and Group CEO, said the proposed partnership with GIP, L’IMAD and Temasek “targets disciplined investments across a diversified pipeline of high-quality opportunities.”

“It builds on ADNOC’s long and successful history of working with trusted partners, leveraging its proven project delivery, infrastructure management, and financing expertise, and deep experience of deploying capital to unlock new revenue streams and create long-term value,” Al Jaber said.

The proposed platform also fits into a wider trend in which energy companies and sovereign-backed investors are seeking exposure to infrastructure assets that provide long-term cash flows, including logistics, power systems, digital networks and industrial platforms.

Temasek, Singapore’s state-owned investment company, will bring additional global investment weight to the proposed platform. The company had a net portfolio value of S$434 billion, or $324 billion, at the end of March 2025.

The founding partners said they will focus on operational excellence and long-term value creation, with a goal of accelerating the development and expansion of critical infrastructure assets across target markets.

The partnership remains subject to definitive agreements.