The ADCB Macquarie infrastructure fund aims to invest about $450m in projects in the region over the next 12 months.
The investments will complete the deployment of the $630m raised for the fund so far. “We are looking at a few more investment opportunities around the region and are planning to deploy the rest of the capital we have raised over the next 12-18 months,” says Matt Tate, senior vice-president of the ADCB Macquarie Infrastructure Fund.
It is expected the deployment will cover three or four more deals, most likely focused on the GCC region.
“We are currently seeing more opportunities opening up to monetise assets that have already been built in the region,” says Tate. “We are flexible on how much we will put into each project.”
He adds that he expects to see projects planned in the region decreased in size, which will make them more attractive opportunities for infrastructure funds.
The fund, launched as a joint venture between the Abu Dhabi Commercial Bank (ADCB) and Australia’s Macquarie, was originally planned to be $1bn in size. Tate says the focus is currently on deploying the capital raised so far, rather than on raising the final $370m of the fund.
So far, the fund has invested $188m in the Abu Dhabi Industrial City project.