ADQ, Abu Dhabi’s wholly owned strategic investment company, and Qazaqstan Investment Corporation (QIC) have set up a co-investment platform that will focus on food, agriculture, mobility, healthcare, energy transformation and clean technology, among others.
QIC is fund of private equity funds with a total capitalisation of $2.5 billion. It is dedicated to the development private equity infrastructure in Kazakhstan and attract foreign direct investments in priority sectors of the country.
The new platform aims to explore investment opportunities in Kazakhstan and other countries in the Central Asia and Caucasus region. ADQ and QIC will make equal financial and operational contributions to each investment, according to a statement from ADQ.
Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ, said: “The co-investment platform underlines ADQ’s commitment to developing partnerships in key markets that complement our investment strategy, which allows other nations to benefit from the considerable, diverse expertise our portfolio encapsulates."
ADQ's portfolio has jumped to $200 billion, mainly backed by the performance of the emirate's top utility, Abu Dhabi National Energy Co.
(Reporting by Seban Scaria; editing by Daniel Luiz)