MUMBAI (Reuters) – IL&FS Investment Managers Ltd. said on Wednesday it has entered into a joint venture with Abu Dhabi Investment Co. (ADIC) for a private equity fund to invest in infrastructure assets in Middle-East and North Africa.
IL&FS and ADIC are expected to invest around $50 million in the fund which, in turn, would have a corpus of up to $1 billion, IL&FS Investment Managers said in a statement.