Abu Dhabi Pension Fund to Invest $300 Million in Adnoc Pipelines
(Bloomberg) -- Abu Dhabi Retirement Pensions and Benefits Fund agreed to invest $300 million in Abu Dhabi National Oil Co.’s midstream pipeline assets, following investments from KKR & Co. and BlackRock Inc.
The fund will acquire a 3 percent stake in Adnoc Oil Pipelines, with BlackRock and KKR together holding 40 percent and Adnoc 57 percent, according to a statement.
KKR and BlackRock in February agreed to invest $4 billion in Abu Dhabi’s oil pipelines, securing two decades of guaranteed returns.
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