The biggest sovereign wealth fund of Abu Dhabi will back the takeover of Medline by Blackstone Group Inc., Carlyle Group Inc. and Hellman & Friedman

Abu Dhabi Investment Authority is planning to join one of the biggest leveraged buyouts of all time by investing about $1 billion alongside a consortium acquiring medical supply company Medline Industries Inc, according to people familiar with the matter.

The biggest sovereign wealth fund of Abu Dhabi will back the takeover of Medline by Blackstone Group Inc., Carlyle Group Inc. and Hellman & Friedman, the people said, asking not to be identified discussing confidential information. Singapore’s state-owned investor GIC Pte is also investing in the deal, which values Medline at more than $30 billion.

Read more/Source: Arabian Business