Consumer
ADIA Weighs €1 Billion Investment in Nestle Ice Cream Venture
- Wealth fund in talks to commit capital to PAI-backed Froneri
- PAI has been seeking investors for new fund to hold its stake
Buyout firms have turned to continuation vehicles to deal with a backlog of investments as dealmaking has slowed over the past couple of years.
Photographer: Denis Charlet/AFP/Getty ImagesThis article is for subscribers only.
Abu Dhabi’s biggest sovereign wealth fund is considering investing at least €1 billion ($1.1 billion) in Nestle SA’s ice cream joint venture, which includes brands like Haagen-Dazs, according to people familiar with the matter.
The Abu Dhabi Investment Authority, which controls almost $1 trillion of assets, is working with advisers as it considers committing fresh capital to Nestle’s Froneri ice cream venture with buyout firm PAI Partners, the people said.