Abu Dhabi Commercial Bank and Australia’s Macquarie Group have launched an infrastructure fund, which they expect will raise up to $1bn to invest mainly in the GCC.
The fund will also look for opportunities in the wider Middle East and North Africa.
The ADCB Macquarie Infrastructure Fund (AMIF) has already raised $360m in capital from domestic and international institutional investors, including the local Al-Hail Holding which contributed $500m. Other investors are based in Qatar, Kuwait and South Korea.
AMIF will provide equity for infrastructure schemes such as roads, water and wastewater projects, ports, airports, district cooling, electricity transmission and distribution, and gas distribution.
In July 2005, ADCB and Macquarie established ADCB Macquarie Corporate Finance. The joint venture provides advisory services on project finance and mergers and acquisitions.
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