Major International Asset Managers Increased Holdings in Adani Group’s Dollar Bonds
Some major international asset managers increased their holdings in the conglomerate’s dollar bonds over the past year.
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Data compiled by Bloomberg shows that BlackRock, one of the world’s largest asset managers, doubled its holdings of Adani dollar bonds to $125 million based on par value.
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Similarly, State Street Corp’s holdings rose over 50% to $16 million during this period.
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Neuberger Berman’s position grew by around 42% to just over $40 million.
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These purchases indicate the change in fortunes for the infrastructure conglomerate led by billionaire Gautam Adani.
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After the sharp correction following the Hindenburg report’s claims of fraud and opacity in January 2023.
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