Sovereign wealth funds in the UAE and Bahrain have joined forces to “explore worldwide co-investment opportunities”.
Abu Dhabi’s Mubadala Investment Company and Bahrain’s Mumtalakat Holding Company have signed a Memorandum of Understanding to “facilitate strategic cooperation between the two institutions”.
Waleed Al Mokarrab Al Muhairi, Mubadala’s deputy group CEO, said: “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.”
Mubadala boasts $243 billion assets under management, with strategic investments spanning the globe.
Khalid Al Rumaihi, Mumtalakat’s CEO, added: “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.”
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