A team of global investors including Abu Dhabi sovereign wealth fund L’imad and Adnoc are partnering to make infrastructure investments of $30 billion across the Gulf and Central Asia.
The consortium, which includes BlackRock’s Global Infrastructure Partners (GIP) and Singapore’s Temasek, plans to raise a combination of equity and debt capital. The investment portfolio will focus on generating long-term, risk-adjusted returns, backed by strong cash yields, the companies said in a joint statement on Thursday.
It will also consider select investments in the broader Middle East and North Africa region.
The partnership, subject to definitive agreements, will target infrastructure investment opportunities across sectors such as energy, transport, logistics, digital, water and waste management. It will aim to accelerate the development and expansion of critical infrastructure assets, the statement added.
The move targets “disciplined investments across a diversified pipeline of high-quality opportunities”, said Dr Sultan Al Jaber, Adnoc’s managing director and group chief executive, and Minister of Industry and Advanced Technology. “Adnoc is focused on strengthening long-term energy security, supporting economic resilience, and enabling sustainable value creation.”
Investing in infrastructure is a critical driver of economic growth and resilience, added Bayo Ogunlesi, chairman and chief executive of GIP.
The move comes days after Abu Dhabi launched Dh55 billion ($15 billion) of public-private partnership projects to boost major development in the transport, infrastructure and social sectors.
The UAE capital has been focused on diversifying its economy away from oil and has taken measures to attract international investors, boost its competitiveness and make conducting business easier. The emirate is also hosting the three-day Abu Dhabi Infrastructure Summit (Adis), which concludes on Thursday.
L'imad was launched last year, and in January, Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, was appointed as its chairman.
It manages a diversified portfolio of assets and projects across sectors including infrastructure and property, financial services and asset management, advanced industries and technology, urban mobility and smart cities. L’imad, whose portfolio includes 25 investment companies and platforms and more than 250 group subsidiaries, also works with local and international partners to support Abu Dhabi as a global centre for investment.
“Infrastructure forms one of the key pillars of our investment strategy, especially in markets where demand is underpinned by structural trends,” Jassem Al Zaabi, managing director and group chief executive of L’imad, said on Thursday.
“These dynamics make the region highly attractive for long-term capital, particularly for opportunities driven by urbanisation, digitisation, and productivity-led growth.”
The partnership is “focused on supporting the development of resilient assets aligned with long-term regional demand”, he added.
It highlights the continued global investor confidence in the UAE and the wider region, the statement said.
“Core-plus infrastructure is a strategic focus area for Temasek, supported by the growing global demand for modern and resilient infrastructure,” said Chia Song Hwee, chief executive of Temasek Global Investments. “This [partnership] underscores our continued interest in the GCC and broader region, and our ambition to create lasting value alongside like-minded partners.”
