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The UAE pipelines purchase – one of the largest deals of the year – brings GIP III close to full deployment, as the fund suffers the effects of the coronavirus pandemic.
As governments consider how to lift lockdowns around the world, BlackRock is targeting an energy sector rebound after closing its largest alternatives vehicle yet.
Commitments for co-investments and SMAs outpaced capital raised for ECP IV due to the large cheque sizes Asian and Middle Eastern LPs contributed to the fund.
The investment by the Singaporean SWF brings the total invested in the pipelines by the trio and an Abu Dhabi pension to $4.9bn.
Mustafa Abdel-Wadood admitted to racketeering and fraud, and has agreed to co-operate with the US probe on the fallen emerging markets firm.
Picture by James Clarke. www.jamesclarke.me, james@jamesclarke.me, 07941 676821.
Barrister Hugo Keith QC says the US government's case is politically motivated due to the threat Abraaj Group and Arif Naqvi represent to US interests.
The document paints a picture of deceit, bribery and personal enrichment at the collapsed emerging markets firm.
Dubai
The region needs a long-term instrument to refinance mini-perms. But, as Victoria Mesquita Wlazlo of Morgan, Lewis & Bockius argues, its capital markets must deepen if project bonds are to be effective.
The acquisition of KRIL expands the Dubai-based port operator’s logistics footprint and the joint venture’s portfolio.
Firm has so far raised around $250m from European LPs as it seeks to generate returns of about 12%.
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