Abu Dhabi\'s pension fund joins KKR\, BlackRock in ADNOC pipeline deal

Abu Dhabi's pension fund joins KKR, BlackRock in ADNOC pipeline deal

In February, ADNOC sealed a $4 billion midstream pipeline infrastructure deal with U.S. investment firms KKR and BlackRock.REUTERS  |  April 14, 2019, 18:03 IST
Logos of ADNOC are seen at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017. REUTERS/Toru Hanai/File Photo
Logos of ADNOC are seen at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017. REUTERS/Toru Hanai/File Photo
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 percent stake in the newly formed entity, ADNOC Oil Pipelines, with BlackRock and KKR together holding 40 percent and ADNOC the remaining 57 percent, ADNOC said in a statement.

In February, ADNOC sealed a $4 billion midstream pipeline infrastructure deal with U.S. investment firms KKR and BlackRock.