Abu Dhabi Investment Authority and Saudi Arabia’s Public Investment Fund (PIF) have jointly invested $1.01 billion in an infrastructure investment trust (InvIT), Digital Fibre Infrastructure Trust (DFIT), that holds Reliance Industries Limited’s (RIL) fibre-optic assets.

According to RIL, ADIA and PIF have agreed to purchase units worth Rs 37.79 billion each in the InvIT.

In a separate development, Reliance Industrial Investments and Holdings (RIIHL), has completed the re-capitalisation of DFIT.

RIL will continue as the sponsor of the InvIT, retaining a minimum 15 per cent stake, while the remaining 85 per cent could be sold to global investors, including ADIA and PIF.

This is the second biggest investment in a RIL operation by ADIA. Earlier, the sovereign wealth fund said it would be injecting Rs 55.12 billion in RIL’s retail division, Reliance Retail.

ADIA and PIF have also invested a combined amount of about $2.2 billion in Jio Platforms.