Mubadala, Mumtalakat in deal to explore worldwide co-investment opportunities

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Mubadala Investment Company (Mubadala), an Abu Dhabi-based sovereign investor with US $243 billion assets under management, and Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of Bahrain, yesterday signed a Memorandum of Understanding to facilitate strategic cooperation between the two institutions.

As part of the MoU, Mubadala and Mumtalakat will explore worldwide co-investment opportunities.

They will also exchange knowledge and best practices to enhance their respective investment and operational capabilities.

Waleed Al Mokarrab Al Muhairi, Mubadala’s Deputy Group CEO, said: “We are excited to collaborate with a like-minded institution, such as Mumtalakat, who share our commitment to building long-term, sustainable relationships.

The agreement signed today will not only create a platform to enable us to explore mutually beneficial co-investment opportunities around the globe, but it will also facilitate knowledge sharing to strengthen our respective organisations’ investment platforms.”

Khalid Al Rumaihi, Mumtalakat’s CEO, said: “Mumtalakat is committed to helping drive the economic transformation of the Kingdom of Bahrain by continuing to grow and add value to our portfolio.

Our partnership with Mubadala not only strengthens our collective operational capacity but also bolsters historical ties, which supports our work in transforming the Bahraini economy.”