Abu Dhabi’s government merged two of its top investment funds on Saturday to strengthen their financial clout in an era of low oil prices, creating a company with assets totaling about $125 billion.
The new fund, Mubadala Investment Co, was formed by merging Mubadala Development Co and International Petroleum Investment Co, which own corporate stakes in the energy industry and other sectors across the world.
The new firm’s assets will total about $125 billion, based on valuations at the end of 2015, make it the world’s 14th largest sovereign fund, according to data from the Sovereign Wealth Fund Institute, which tracks the industry.
Mubadala Investment will be run by Chief Executive Khaldoon Al Mubarak, UAE state news agency WAM reported, adding that a board had been appointed. Mubarak, a prominent executive who sits on several companies’ boards, was chief executive of Mubadala Development.

Abu Dhabi creates $125 bln fund by merging Mubadala, IPIC

Khaldoon Khalifa Al Mubarak, CEO and Managing Director of Mubadala Investment (center) at a ceremony of Emirates Aluminium. (File photo: AP)
Reuters, Abu Dhabi
Saturday 21 January 2017
Last Update: Wednesday, 20 May 2020 KSA 09:53 - GMT 06:53
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