We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Tue 20 Sep 2016 02:04 PM

Font Size

- Aa +

Mubadala said to mull redistribution of $2bn portfolio

Abu Dhabi sovereign wealth fund is talking to a number of 'world-class' potential partners, says spokesman

Mubadala said to mull redistribution of $2bn portfolio

Abu Dhabi sovereign wealth fund Mubadala is considering re-distributing some of its $2bn worth of investments to another vehicle as part of the creation of an investment fund, according to Bloomberg.

Mubadala is looking at establishing a new investment fund that would co-invest with partners and is in discussions with “a number of world-class partners to explore the idea of joining us,’’ Mubadala spokesman Brian Lott reportedly told Bloomberg on September 19. He declined to comment further.

The SWF has engaged advisers at Campbell Lutyens & Co. to help it review options, sources told Bloomberg, asking not to be identified as the information is private. No final decisions have been made, the people said.

Mubadala, which is the emirate’s vehicle for making investments that will help diversify Abu Dhabi’s economy from oil, is in the process of merging with International Petroleum Investment Company (IPIC) to create an entity with assets worth about $125bn, and about $42bn worth of debt.

Arabian Business: why we're going behind a paywall

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.