Abu Dhabi-based sovereign wealth fund Mubadala Investment Company has announced plans to invest in its core areas in the next two decades. The plans come as the company is currently in talks to buy a strategic stake in Abu Dhabi National Energy Company (TAQA), and has recently acquired a stake in Abu Dhabi National Oil Company (Adnoc).
The Abu Dhabi National Energy Company (TAQA) and Mubadala Investment Company (Mubadala) announced on Thursday that they would all become shareholders in Masdar, a technology-focused innovation hub in the United Arab Emirates. The deal will see TAQA become the majority shareholder, with Mubadala holding a minority stake.
Mubadala's chief executive for UAE Investment, Waleed Al Mokarrab Al Muhairi, is set to leave the Abu Dhabi sovereign wealth fund to head a new division at the Abu Dhabi Investment Office. The new division will be responsible for overseeing Investment in the UAE and across the region. Al Muhairi has been with Mubadala since 2017 and is credited with driving the company's Investment in the UAE and beyond.
The company also confirmed on Wednesday that it has acquired a strategic stake in Chinese electric vehicle (EV) maker NIO Inc. The Investment was part of a funding round of US$1.4 billion, and Mubadala joins a group of invest which includes Tencent, Baillie Gifford and T. Rowe Price.
Mubadala was one of three Investment companies that bid for the rights to a 10-year naming rights deal for the Los Angeles Rams' stadium, along with Crown Prince Mohammed bin Salman's Kingdom Holding Company and Qatar Investment Authority. The deal was eventually won by online mattress retailer Casper, with Mubadala and the other two bidders both dropping out of the bidding process.
The company is also reported to be in talks to buy a stake in the Abu Dhabi National Oil Company (Adnoc), with the company confirming that it is in talks with Adnoc to explore opportunities for Investment. The talks are said to be focused on Investment in the energy sector in the UAE.
The Abu Dhabi-based company is also said to be in talks with Saudi Arabia's government-owned Public Investment Fund (PIF) to explore a partnership. The partnership is said to be focused on Investment and strategic initiatives in the UAE and Saudi Arabia.
Mubadala Investment Company is a sovereign wealth fund owned by the government of Abu Dhabi. Founded in 2002, it has Investment in a wide range of sectors, including aerospace, defense, healthcare, hospitality, infrastructure, private equity, real estate, and technology. The company is one of the largest invest in the UAE and is a major player in the region's economy.
