Abu Dhabi Investment Authority Buys Stake in India’s Aditya Birla Health Insurance

By Nick Hedley

The Abu Dhabi Investment Authority (ADIA), one of the largest sovereign wealth funds in the world with $829 billion in assets, is acquiring a 10% stake in India’s Aditya Birla Health Insurance for 6.7 billion rupees (US$83 million).

Mumbai-based Aditya Birla Capital and South Africa’s Momentum Metropolitan currently jointly own Aditya Birla Health Insurance. Their stakes will be reduced to 45.9% and 44.1%, respectively, when ADIA is introduced as a third investor.

The capital injection from ADIA will be used to drive Aditya Birla Health Insurance’s growth in India’s health insurance market, according to a regulatory filing by Momentum Metropolitan.

In June, ADIA acquired a 10% stake in energy investment company Sempra Infrastructure for $1.73 billion.

Around the same time, ADIA and Global Infrastructure Partners (GIP) announced that they would jointly acquire a 72.6% stake in VTG Aktiengesellschaft, a European railcar lessor, from funds managed by Morgan Stanley Infrastructure Partners and Joachim Herz Stiftung.