GQG Partners, a leading US-based global equity investment boutique, on Thursday bought shares worth Rs 15,446 crore ($1.87 billion) in Adani Group firms like Adani Ports and Special Economic Zone Limited, Adani Green Energy Limited, Adani Transmission Limited and Adani Enterprises Ltd through block deals.
“The investment has made GQG a key investor in the development and growth of critical Indian infrastructure,” said Adani Group in a statement. Jefferies India Private Limited acted as a sole broker for the transaction.
Rajiv Jain, Chairman and CIO of GQG Partners, said: “I am excited to have initiated positions in the Adani companies. Adani companies own and operate some of the largest and most important infrastructure assets throughout India and around the world. Gautam Adani is widely regarded as among the best entrepreneurs of his generation. We believe that the long-term growth prospects for these companies are substantial, and we are pleased to be investing in companies that will help advance India’s economy and energy infrastructure, including their energy transition over the long-run.”
Jugeshinder (Robbie) Singh, Group CFO of Adani Group, said: “We are delighted to complete this landmark transaction with GQG. We value GQG’s role as a strategic investor in our infrastructure and utility portfolio of sustainable energy, logistics and Energy Transition. This transaction marks the continued confidence of global investors in the governance, management practices and the growth of Adani portfolio of companies.”
“GQG is one of the world’s leading global and emerging markets investors with exceptional long-term track records. GQG Partners manages more than AUD$130 billion ($92 billion) in client assets as of January 31, 2023. Listed on the Australian Stock Exchange, GQG Partners is the winner of Morningstar Australia’s Global Equity Manager of the Year for 2022,” said Adani Group.