Macquarie's Turn To Tap Infrastructure Potential

CFW's view on the importance of the infrastructure sector for private equity firms continues to play out, and on December 16 Australia's Macquarie Group and the Abu Dhabi Commercial Bank (ABCB) announced the launch of the ABCB Macquarie Infrastructure Fund, which will invest in economic and social infrastructure projects in the Gulf Cooperation Council (GCC) area. Private investments for infrastructure development are crucial for the sustained growth of the Gulf economies, but there has been concern that private investments would fall as a result of the financial crisis. The fund is seeking to raise US$1bn, and a seed investment of US$500mn has already been made by UAE-based regional property developer Al Hail Holding. Smaller investments have also been made by investors from South Korea, Kuwait, Qatar, as well as commitments by ABCB and Macquarie Group.

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