BlackRock Picks 1/3rd Of Adani’s $750-Mn Bond Issue

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 November last year. BlackRock’s move marks its first private placement in India’s infrastructure sector -- a segment the firm is increasingly bullish on.

“Infrastructure is one of the most exciting long-term investment opportunities, as a number of structural shifts re-shape the global economy,” BlackRock Chairman Larry Fink had stated in January 2024, following the company’s $12.5-billion acquisition of Global Infrastructure Partners (GIP), a major player in ports, power, and digital infrastructure.