IL&FS and Abu Dhabi Investment Company (ADIC) have joined hands to float a $1 bn private equity fund to invest in infrastructure projects in West Asia and North Africa. Both the companies are expected to commit around $50 million to the joint venture. The fund would look for investment opportunities in the upstream energy sector, in addition to roads, power and water supply management projects. ADIC would also consider investing in the Indian downstream sectors such as power.
Read more in the Business Standard article.
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