Singapore’s GIC invests in $5bn #AbuDhabi pipeline unit | Financial Times

Singapore’s GIC invests in $5bn Abu Dhabi pipeline unit | Financial Times:

Singapore’s GIC has signed a deal to invest in a nearly $5bn pipeline infrastructure entity that Abu Dhabi’s national oil company is setting up with Wall Street groups BlackRock and KKR.

GIC, one of the largest institutional investors in the world, will invest $600m and will acquire a 6 per cent stake in the newly formed entity called ADNOC Oil Pipelines.

BlackRock and KKR own 40 per cent while ADNOC owns 51 per cent, ADNOC said on Tuesday. The Abu Dhabi Retirement Pensions and Benefits Fund said earlier this year it would acquire a 3 per cent stake.