The sources said the UAE would provide the bulk of the money and private equity firm TPG and infrastructure investor Brookfield would also be involved.
Two sources said the money would be overseen by UAE-backed investor Lunate Capital.
A view of Dubai's Expo City during the United Nations Climate Change Conference (COP28) Climate Summit in Dubai, United Arab Emirates, November 30, 2023.
REUTERS/Amr Alfiky Acquire Licensing RightsA second source said BlackRock, TPG and Brookfield would allocate money currently housed in other funds to the UAE fund and that talks over the fund began after the summer and carried on through October.
Additional reporting by Andres Gonzales, Anousha Sakoui and Elisa Martinuzzi in London Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.
Persons:
Lunate, Amr Alfiky, Andres Gonzales, Anousha Sakoui, Elisa Martinuzzi, Susan Fenton
Organizations:
Lunate, BlackRock, TPG, Brookfield, United, Reuters, Lunate Capital, Financial Times, Dubai's, United Nations, Change, United Arab Emirates, REUTERS, UAE, COP28, Thomson
Locations:
UAE, DUBAI, United Arab Emirates, Dubai, United Arab, BlackRock, Brookfield, London