The Wall Street Journal-20080212-Abu Dhabi- UBS Start Joint Fund

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Abu Dhabi, UBS Start Joint Fund

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Abu Dhabi Investment Co. and Switzerland-based bank UBS AG said they have formed a $500 million joint-venture fund to invest in infrastructure projects in the Middle East, North Africa and Turkey. "The fund with UBS will invest in the region's transport-, social- and energy-related projects," ADIC Chairman Khalifa Al Kindi said in Abu Dhabi. ADIC is the international investment arm of the oil-rich emirate of Abu Dhabi. The ADIC-UBS fund will begin operating in the first half of this year.