ADCB Macquarie fund in $188m debut deal

The Abu Dhabi Commercial Bank and Macquarie joint infrastructure fund's investment will help support infrastructure developments commissioned by the Abu Dhabi government. The fund has raised more than half of its $1bn target.

The ADCB Macquarie Infrastructure Fund will invest $188 million in infrastructure developments commissioned by ZonesCorp, an independent government authority owned by the government of Abu Dhabi through the Department of Planning and Economy.

The investment will be used for the development of infrastructure such as road and irrigation networks, sewerage utilities and electricity transmission and distribution networks for industrial zones, Jasim Al

Abu Dhabi: drawing
infrastructure investments

Darmaki, spokesperson for the ADCB Macquarie joint venture, said in a statement.

The fund will now have exposure to four assets, two each in the Industrial City of Abu Dhabi and Al Ain Industrial City – a 10 square kilometer industrial estate on the freight road connecting Abu Dhabi, Al Ain and Dubai, a Macquarie spokeswoman said.

This is the first investment from the fund which is targeting commitments of $1 billion. The fund has already raised $630 million, including a $500 million anchor investment from UAE-based Al Hail Holding, which manages a portfolio of investments and development projects. The remaining capital has been raised from sponsors Macquarie and Abu Dhabi Commercial Bank and other institutional investors from Korea, Kuwait and Qatar.

The fund invests in GCC countries and selectively across the wider Middle East and North Africa region. It focuses on investments in roads, water and wastewater utilities, ports, airports, district cooling, electricity transmission and distribution, gas distribution and social infrastructure.