Abu Dhabi pension fund to invest $300 mn in Adnoc

DUBAI: Abu Dhabi National Oil Company (Adnoc) said on Sunday that Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF) has signed a deal to invest in a pipeline infrastructure entity that Adnoc is setting up with Blackrock and KKR. ADRPBF will invest 1.1 billion dirhams ($300 million) and will acquire a 3% stake in the newly formed entity, Adnoc Oil Pipelines, with Blackrock and KKR together holding 40% and Adnoc the remaining 57%, Adnoc said in a statement. In February, Adnoc sealed a $4 billion midstream pipeline infrastructure deal with US investment firms KKR and Blackrock.