ECONOMY

Mubadala launches $1 bln Abu Dhabi-based investment fund

The new fund will be based in Abu Dhabi Global Market (ADGM), the financial center of Abu Dhabi. (File photo: Reuters)

State-owned Mubadala Investment Company said it has launched a new $1 billion fund, Abu Dhabi Catalyst Partners, to explore opportunities within the United Arab Emirates and abroad.

The new fund will be based in Abu Dhabi Global Market (ADGM), the financial center of Abu Dhabi, and will make use of Mubadala’s networks to originate investment opportunities in the region, Mubadala said in a statement.

“The new fund will target opportunities across asset management, specialty finance and financial infrastructure, with investees expected to have a presence in ADGM,” it said.

Mubadala manages more than $225 billion in assets and has committed $15 billion to the $100 billion SoftBank Vision Fund.

It has equity stakes in companies including General Electric and private equity firm Carlyle Group.

Set up in 2015, ADGM is Abu Dhabi’s financial free zone, home to banks, investment funds, asset managers and tech companies.

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Last Update: Friday, 26 April 2019 KSA 10:55 - GMT 07:55
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