Four Mauritius-based funds with $7 bn in Adani stocks have history of wrong bets
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Last Updated: Jul 28, 2021, 08:43 AM IST
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Before they put about 90% of their $6.9 billion under management in the Adani empire, the funds Elara India Opportunities Fund, Cresta Fund, Albula Investment Fund and APMS Investment Fund held significant stakes in two companies whose founders fled India and have since been probed for money laundering, another that went bankrupt, and a fourth that was liquidated after sparring with the Ethiopian government.
Some lawmakers are now seeking an investigation into whether the Mauritius funds are being used as a shell for Adani’s own money.
Four funds with $7 billion in Adani have history of wrong bets
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