Abu Dhabi’s wealth fund ADQ is now in talks with Turkish funds as it believes the recent depreciation of the Turkish lira could provide investment opportunities.
- ADQ Chief Executive Mohammed Hassan al-Suwaidi said the weakness of the lira indicates a “great time” to acquire additional holdings in Turkish firms for long-term investors.
- Suwaidi said the fund is currently in talks with the Turkish sovereign fund regarding “a couple” of investment opportunities, including firms already within TWF’s portfolio.
- Suwaidi said among the opportunities being looked at are some stranded assets that it may enter, or others where a platform can be developed from. He said ADQ is looking at “a few things” with them.
ADQ earlier inked a memorandum of understanding with TWF, and poured money into Turkish startup grocery delivery firm Getir.
Source: Financial Times