The Abu Dhabi Investment Authority (ADIA) plans to invest as much as US$1.5 billion in GLP Pte to support what it describes as the “next phase of growth” for the Singapore alternatives manager of around $80 billion of assets.
ADIA will initially deploy $500 million for GLP to accelerate development of platforms across logistics, digital infrastructure and renewable energy sectors, the sovereign wealth fund says in a statement on August 28.
According to ADIA, these emerging sectors are poised to benefit from structural tailwinds from e-commerce expansion, adoption of artificial intelligence and cloud technologies, and global shifts to more sustainable energy sources.
“We have successfully invested in GLP funds for a number of years. This transaction will allow us to deepen that relationship, support the company’s next phase of growth, and scale our exposure to new sectors,” says Mohamed Al Qubaisi, executive director of the real estate department at the wealth fund.
ADIA is one of the world’s largest sovereign wealth funds, with around $1.07 trillion of assets under management.
