Originally Posted by
sensen
The lira was in freefall and warnings of a deepening crisis in Turkey were growing when ADQ, an Abu Dhabi state investment vehicle, did what few other foreign investors have been willing to do: it pledged to pump billions into local businesses.
Now the fund is on the hunt for investments, from financial institutions to logistics and food, despite the economic turmoil. Mohammed Hassan al-Suwaidi, chief executive of ADQ, told the Financial Times that the liraâ€â•s weakness could provide opportunities, saying it was a “great time†to buy if you take “a long-term viewâ€.
He added that the fund was already in “discussions with the Turkish sovereign fund [TWF] on a couple of opportunities,†including companies within TWFâ€â•s portfolio.
“They have some stranded assets that they can either bring you into, or you could develop a platform from, so we are looking at a few things with them,†Suwaidi said.
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