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Abu Dhabi, Kuwait bid for Australian electricity grid assets – report

Sovereign wealth funds from Abu Dhabi and Kuwait are reportedly part of a group bidding for the electricity assets of Australia’s most populous state.

The Abu Dhabi Investment Authority and an arm of the Kuwait Investment Authority, along with Hastings Funds Management, Spark Infrastructure Group and Canada’s Caisse de Depot et Placement du Quebec, are seeking to buy the New South Wales (NSW) assets,according to Bloomberg, citing people with knowledge of the matter.

They are reportedly bidding against other high net worth investment funds including State Grid of China, the nation’s biggest electricity distributor, Hong Kong billionaire Li Ka-shing’s Cheung Kong Infrastructure Holdings and Macquarie Group’s Macquarie Infrastructure and Real Assets arm