AIIB commits US$90m to Investcorp and Aberdeen fund

The Asian Infrastructure Investment Bank is earmarking US$90 million for an infrastructure fund operated by Aberdeen Standard Investments and Bahrain-headquartered alternative asset management firm Investcorp.

The Aberdeen Standard Investcorp Infrastructure Partners’ Fund will prioritize investment prospects in sectors such as healthcare, education, water, mobility, and digital infrastructure.

According to a statement by Investcorp, the primary locational focus of the fund is the GCC and the broader Middle East and North Africa region. In the statement, the firm failed to specify the volume of the fund.

“This partnership will enhance AIIB exposure to the region and allow us to work with the leading investments and developments institutions in the region to support the sustainable infrastructure in AIIB members,” Saud Al Sayyari, a Senior Investment Officer at AIIB, said.

He added that AIIB is determined to “identify vital infrastructure projects that will contribute positively to communities and future generations.”

The news of AIIB commitment comes on the heels of Saudi Arabia’s sovereign wealth fund’s backing in June. The Public Investment Fund is taking responsibility for about 20% of ASIIP’s total size.