NEW DELHI: Funds managed by BlackRock, the global investment behemoth, emerged as the largest subscribers of the $750-million private bond issuance by the Adani Group.
The US-based asset manager, overseeing $12 trillion in assets, has taken on one-third of the $750 million issuance, which carries a tenure of 3-5 years, sources with direct knowledge of the matter said.
This investment comes at a time when Adani Group officials are under scrutiny following a US Department of Justice (DOJ) indictment in a bribery case in Nov last year.
BlackRock’s move marks its first private placement in India’s infrastructure sector – a segment the firm is increasingly bullish on.
