IPIC eyes $30bn investments after Barclays deal

Abu Dhabi's investment co's CEO also says $12bn deals closed since middle of 2008.
IPIC eyes $30bn investments after Barclays deal
By Stanley Carvalho
Sun 14 Jun 2009 02:39 PM

Abu Dhabi's state-owned International Petroleum Investment Company (IPIC) is expanding its investment target to $30 billion after selling its stake in Barclays, IPIC's CEO said on Sunday.

IPIC has a current investment portfolio of between $16 to $20 billion, Khadem Al Qubaisi said in an interview.

He also said IPIC has closed deals worth $10-$12 billion since the middle of last year and is working on some 30 to 40 investment deals in the energy and other sectors. (Reuters)

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