GQG Partners, which owns the Adani Group worth $8.1 billion, does not see a significant impact on operations

GQG Partners, one of the first investors to take a stake in the Adani Group following last year’s Hindenburg scandal, said it does not expect significant business consequences from the U.S. District Court and U.S. Securities and Exchange Commission actions regarding an alleged bribery scheme involving the group.

The company said regulatory investigations often take years and could result in reduced fines. “There are precedents for global corporations and executives being accused of corruption,” GQG said.

GQG said the allegations are directed at specific employees and not the company itself, and that the allegations relate solely to Adani Green and not other entities within the Adani Group.

As of November 21, GQG’s total exposure was $8.1 billion on total assets of $156.7 billion, or 5.2% of total assets.

As of end-September, GQG Partners held stakes in six Adani Group companies, with stakes ranging from 1.5% to 2%.

Stock	GQG share as of September 30, 2024
Ambuja Cements	2.05%
Adani Energy Solutions	1.89%
Adani Power	1.76%
Adani Green Energy	1.62%
Adani Enterprises	1.45%
Adani Ports	1.46%

In an earlier statement, GQG said it was monitoring charges filed by the U.S. Attorney’s Office for the Eastern District of New York and the U.S. Securities and Exchange Commission against Gautam Adani and certain other Adani Group executives and companies.

“Our team is reviewing the emerging details and determining what actions, if any, are appropriate in our portfolios,” GQG said in a statement.