Leading Global Sovereign Funds and Major Investors Reaffirm Commitment to Adani Group
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New Delhi, Nov 28 (NationPress) Abu Dhabi's International Holding Company (IHC) announced on Thursday that its investment outlook for the Adani Group is unchanged, even in light of the recent US indictment of several officials from the conglomerate.
In their statement, IHC, one of the largest sovereign funds managing assets totaling $100 billion, emphasized that their partnership with the Adani Group underscores their confidence in the group’s significant contributions to the green energy and sustainability sectors.
The IHC further noted that, as with all their investments, their team is continuously reviewing relevant information and developments. Currently, they maintain their outlook on these investments.
In April 2022, this sovereign fund made substantial investments of nearly $500 million each in Adani Green Energy and Adani Transmission, along with an additional $1 billion in the flagship Adani Enterprises.
Additionally, the Sri Lanka Ports Authority expressed ongoing confidence in its collaboration with the Adani Group, which is crucial for enhancing the country’s port infrastructure. The $1 billion investment in the Colombo terminal is anticipated to become the largest foreign direct investment in Sri Lanka’s port sector.
The government of Tanzania has also reiterated its commitment to its agreements with Adani Ports, stating that there are no concerns regarding the ongoing projects and that all contracts adhere to Tanzanian law.
In the meantime, leading investors on Thursday reinforced their commitment to Adani Group stocks.
GQG Partners stated, “we do not perceive these actions as having a significant impact on these businesses.”
“These enterprises are involved in critical infrastructure regulated by the Indian government. Typically, these are services with long-term contractual revenues. We believe the fundamentals of the companies we have invested in remain robust,” they added.
Madhusudan Kela expressed his strong belief in Gautam Adani and the capabilities of the Group, stating, “They have established a remarkably strong set of businesses, which are not easily replicated. For all these reasons, I am invested in the group’s stocks and have increased my holdings during the recent market correction. Events like the US DoJ actions will occur, but I see no cause for panic in the stock prices. Just as they navigated the Hindenburg situation, they will emerge from this challenge even stronger,” Kela concluded.
