Adani’s Comeback: BlackRock Leads $750 Million Investment

BlackRock, the world’s largest asset manager, has emerged as the lead investor in a $750 million private bond deal by Adani Group, marking a significant turnaround for the conglomerate still reeling from a US Department of Justice bribery indictment last year. The funds, raised by Adani’s Renew Exim, will finance the acquisition of ITD Cementation, bolstering Adani’s infrastructure portfolio.

 

BlackRock acquired one-third of the bond issuance—its first private placement in India’s infrastructure sector—alongside heavyweights like Farallon Capital and Sona Asset Management. The deal, yielding high single-digit dollar returns, is viewed as a strong vote of confidence in Adani’s resilience and strategic direction, especially after previous fundraising setbacks and suspended bond sales due to legal headwinds.

 

Industry observers view BlackRock's entry as a partial victory for Adani, which signifies renewed international investor confidence in the face of continuing legal ambiguity. The move also fits BlackRock's global infrastructure growth play, following its $12.5 billion purchase of Global Infrastructure Partners.

 

Source: IndianWeb2