ADIC-UBS Puts Spotlight On MENA

The Abu Dhabi Investment Company (ADIC) together with UBS Global Asset Management have announced the first close of a joint infrastructure fund targeting the Middle East and North Africa (MENA), in a move that further underlines CFW's view on the scope for private infrastructure investment in the region. Formed in 2008, the first close of the fund has seen commitments of US$250mn, while the joint venture is continuing to seek investors to reach its target of US$600mn. Over the next three to five years it will target investments focusing on transport, power and water, as well as social infrastructure including schools and hospitals. Notably, the ADIC-UBS Infrastructure Investment is looking to invest in those greenfield projects traditionally seen as the riskier end of the infrastructure spectrum as demand is less predictable.

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