The head of Mubadala Investment Co. said Asia will be an area of focus for the Abu Dhabi sovereign wealth fund this year as China recovers from the pandemic and India continues to grow.
“Asia is very promising, particularly if you see what’s happening in the post-COVID era,” Chief Executive Officer Khaldoon Khalifa Al Mubarak said on a Bloomberg Television interview at Davos on Wednesday. “We are seeing very exciting opportunities in Indonesia, South East Asia and even Japan and Korea.”
The $284 billion Abu Dhabi wealth fund will continue to invest in semiconductors, technology, energy transition, digital infrastructure and credit in the short-to-medium term, Al Mubarak said, and is also looking potential investments in technology and venture capital globally.
Mubadala is among sovereign wealth funds from the oil-rich Gulf region that continue to be active acquirers even as global deal volumes fall and banks cut bank lending for acquisitions.
Buoyed with cash from last year’s commodity boom and spurred on by equally ambitious neighbors such as Qatar and Saudi Arabia, the United Arab Emirates — home to about 6 percent of the world’s proven oil reserves — is investing billions of dollars to diversify its economy away from crude.
“Our mood is more of cautious optimism,” Al Mubarak said. “There is no doubt that there are some headwinds and there are challenges ahead, but it’s not as bad as people thought. Whether it’s a recession or a lighter recession, my view is that 2023 will be okay.”
Abu Dhabi's Mubadala taps Apollo ties for $2.5 bln global private credit planMubadala Investment Co. formed a joint venture to lend about $2.5 billion over the next five years through a private credit platform that will ... Economy
Dubai-based Tabby raises $58 million in funding round, valued at $660 millionDubai-based Tabby raised $58 million from investors including Sequoia Capital India in a funding round that valued the buy now, pay later startup at ... Technology
Investcorp to invest $1 billion in Saudi Arabia’s real estate over the next five yearInvestcorp Holdings, one of the largest asset managers in the Middle East, plans to invest as much as $1 billion in Saudi real estate over the next ... Financial Markets