New Delhi- Life Insurance Corporation of India's investment in Adani group companies may be under the spotlight, but recent data shows that some of the largest investments in entities controlled by billionaire Gautam Adani have come not from the state insurer but from major US and global insurers.

In June 2025, a month after USD 570 million (Rs 5,000 crore) investment by Life Insurance Corporation (LIC) in Adani Ports & SEZ, US-based Athene Insurance led a Rs 6,650 crore (USD 750 million) debt investment in Adani's Mumbai International Airport, joined by several leading international insurance firms.

Apollo Global Management - Athene's parent company - in a statement on June 23 stated that its managed funds, affiliates, and other long-term investors had completed a USD 750 million“investment grade rated financing” for Mumbai International Airport Ltd (MAIL).

This was Apollo's second large financing for MIAL, following its previous financing that provided operational flexibility to deleverage.

Other fund raises included Adani Green Energy Ltd raising around USD 250 million from a group of global lenders, including DBS Bank, DZ Bank, Rabobank, and Bank SinoPac Co Ltd.

In all, the group signed new credit facilities of more than USD 10 billion in the first half of the year across the port unit (APSEZ), renewable energy arm (AGEL), flagship firm (Adani Enterprises Ltd) and power transmission unit (Adani Energy Solutions Ltd), according to an August report by S&P Global Ratings.

LIC's investments in the Adani group were under the spotlight after The Washington Post reported that government officials influenced LIC's investment decisions amid global investor hesitation.

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