Australian pension fund client queries GQG about $1.9 bn Adani investment
An Australian pension fund client of GQG Partners has asked the U.S. boutique investment firm for more information about its nearly $1.9 billion investment in the embattled Indian Adani group.
GQG Partners bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller’s critical report sparked a stock rout.
The U.S. firm manages money on behalf of at least four major Australian pension funds with a total of A$563 billion under management. GQG’s investment could expose these funds to Adani at a time when major investors, including Norway’s sovereign wealth fund, are selling the stock.
