Abu Dhabi Investment Authority (ADIA), one of the world's largest sovereign wealth funds, is in talks with India's Aditya Birla Group for an investment of nearly Rs. 1,200-1,500 crore ($150-$188 million) in its health insurance arm as growth equity, the Indian newspaper Economic Times reported on Monday citing unnamed sources.
The discussions for ADIA taking a minority stake in Aditya Birla Health Insurance Co Ltd (ABHICL) are ongoing, people aware of the matter told ET.
The final amount and size of the stake are not finalised yet, the report said.
ADIA, which has around $700 billion in assets under management has also invested in various Indian companies such as HDFC Bank, Reliance Capital, Kotak Mahindra Bank, and KKR India Financial Services.
(Writing by Brinda Darasha; editing by Seban Scaria)