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.

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.

Similarly, State Street Corp’s holdings rose over 50% to $16 million during this period.

Neuberger Berman’s position grew by around 42% to just over $40 million.

These purchases indicate the change in fortunes for the infrastructure conglomerate led by billionaire Gautam Adani.

After the sharp correction following the Hindenburg report’s claims of fraud and opacity in January 2023.