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Mubadala to shift investment focus to Asia says CEO

Mubadala CEO Khaldoon Al Mubarak said its main investment flows were changing, with more emphasis on India and Southeast Asia Wam
Mubadala CEO Khaldoon Al Mubarak said its main investment flows were changing, with more emphasis on India and Southeast Asia

Mubadala, the second-biggest sovereign wealth fund in Abu Dhabi, will shift its investment focus towards Asia though the US remains a key market, CEO Khaldoon Al Mubarak said.

“The US will remain an unbelievably attractive market and a key market for us,” Al Mubarak told the Milken Institute Middle East and Africa Summit.

The CEO said the fund’s main investment flows were changing, with less emphasis on the US and Europe.

The East is growing today, Al Mubarak said, citing India and Southeast Asia.

“It’s in big economies with big populations that are growing,” Al Mubarak said, admitting that the fund had not given much focus to Asia in the last decade but was building up that capacity.

Mubadala has invested $4 billion in India, including investments in billionaire Mukesh Ambani’s telecom and retail businesses, as well as Tata Power’s renewable energy unit.

In September Mubadala officially opened an office in Beijing in a move to further strengthen the growing economic relations between the UAE and China.

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