World’s Third-Biggest Wealth Fund Joins Medline Buyout Group (1)

Abu Dhabi Investment Authority is joining one of the biggest leveraged buyouts of all time by investing about $1 billion alongside a consortium acquiring medical supply company Medline Industries Inc.

The world’s third-biggest wealth fund, known as ADIA, will back the takeover of Medline by Blackstone Group Inc., Carlyle Group Inc. and Hellman & Friedman, according to people familiar with the matter, who asked not to be identified discussing confidential information. Singapore’s state-owned investor GIC Pte is also investing in the deal, which values Medline at more than $30 billion.

A spokesperson for ADIA confirmed the investment in ...