April 14, 2019 / 7:27 AM / in 5 days

Abu Dhabi's pension fund joins KKR, BlackRock in ADNOC pipeline deal

DUBAI (Reuters) - Abu Dhabi National Oil Company (ADNOC) said on Sunday that Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF) has signed a deal to invest in a pipeline infrastructure entity that ADNOC is setting up with BlackRock and KKR.

ADRPBF will invest 1.1 billion dirhams ($300 million) and will acquire a 3 percent stake in the newly formed entity, ADNOC Oil Pipelines, with BlackRock and KKR together holding 40 percent and ADNOC the remaining 57 percent, ADNOC said in a statement.

In February, ADNOC sealed a $4 billion midstream pipeline infrastructure deal with U.S. investment firms KKR and BlackRock.

Reporting by Dahlia Nehme; Editing by Rania El Gamal and Susan Fenton

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