Singapore’s sovereign wealth fund to invest $600m in ADNOC’s crude pipelines

The deal will take the combined lease-based investment of GIC, ADRPBF, KKR and BlackRock in the ADNOC’s pipeline infrastructure to $4.9bn



Singapore’s sovereign wealth fund (GIC) will invest $600m in ADNOC’s crude pipeline infrastructure, following similar deals by BlackRock, KKR and the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF), ADNOC said on Tuesday.

The deal will take the combined lease-based investment of GIC, ADRPBF, KKR and BlackRock in the ADNOC’s pipeline infrastructure to $4.9bn, according to ADNOC’s statement.

GIC will acquire a 6 per cent stake in ADNOC’s newly formed entity, ADNOC Oil Pipelines LLC (ADNOC Oil Pipeline), with BlackRock and KKR together holding 40 per cent, ADRPBF 3 per cent and ADNOC the remaining 51 per cent.