ADIA bets on infra & financial services

The sovereign wealth fund has invested $1.3 billion in India

What’s common between the initial public offerings (IPOs) of Eris Life Sciences, ICICI Lombard, SBI Life Insurance and Security & Intelligence Services (India)? The Abu Dhabi Investment Authority (ADIA) was an anchor investor in all these IPOs, stepping on the gas in India.

ADIA, which invests on behalf of the Government of Abu Dhabi, has not only been investing in listed equities, but also putting a lot of its private equity (PE) to work to build its India portfolio.  In the past, ADIA has invested in HDFC Bank, Kotak Mahindra Bank, Reliance Capital,  TTK Prestige and Parag Milk Foods, investing over