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Abu Dhabi Pension Fund to Invest $300 Million in Adnoc Pipelines

Processing tanks stand at the Ruwais refinery and petrochemical complex, operated by Abu Dhabi National Oil Co. (ADNOC), in Al Ruwais, United Arab Emirates.

Processing tanks stand at the Ruwais refinery and petrochemical complex, operated by Abu Dhabi National Oil Co. (ADNOC), in Al Ruwais, United Arab Emirates.

Photographer: Christophe Viseux/Bloomberg

Abu Dhabi Retirement Pensions and Benefits Fund agreed to invest $300 million in Abu Dhabi National Oil Co.’s midstream pipeline assets, following investments from KKR & Co. and BlackRock Inc.

The fund will acquire a 3 percent stake in Adnoc Oil Pipelines, with BlackRock and KKR together holding 40 percent and Adnoc 57 percent, according to a statement.