Abu Dhabi fund is looking at sectors including hi-tech industries, artificial intelligence, healthcare and real estate
Abu Dhabi’s Mubadala Investment Co, which has committed $15 billion to SoftBank Group Corp’s Vision Fund, is exploring investments and new partnerships in Asia.
The fund is looking at sectors including hi-tech industries, artificial intelligence, health care, real estate, as well as traditional private equity, Mubadala’s deputy group CEO Waleed Al Mokarrab Al Muhairi said in an interview with Bloomberg TV in Hong Kong on Thursday.
“We have strong partnerships with a lot of different entities” in places such as Hong Kong, China, Japan and Singapore, Al Muhairi said.
Sovereign wealth funds in Gulf Arab states, including Saudi Arabia’s Public Investment Fund, are looking at opportunities in new areas to reduce their reliance on volatile oil markets.
Mubadala merged with International Petroleum Investment Co in 2017 and absorbed Abu Dhabi Investment Council last year, making it the world’s 14th-largest fund with about $250 billion of assets, according to the Sovereign Wealth Fund Institute.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.