Mubadala Investment Company, an Abu Dhabi-based sovereign investor and Mumtalakat Holding Company, the sovereign wealth fund of Bahrain, have signed a Memorandum of Understanding (MoU) to foster strategic cooperation between the two entities.
Under the MoU, Mubadala and Mumtalakat will explore global co-investment opportunities. They will also share knowledge and best practices to enhance their respective investment and operational capabilities.
Mubadala, with $243 billion assets under management, has a portfolio spanning to six continents with interests in multiple sectors and asset classes. It leverages strong sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.
Mumtalakat holds stakes in over 50 commercial enterprises with a portfolio spanning in a variety of sectors, including industrial manufacturing, financial services, telecom, real estate, logistics, consumer products, healthcare and education.
“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 organizations’ investment platforms.”
HE Khalid Al Rumaihi, Mumtalakat’s CEO, said that “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.”