Mubadala to focus on Asia investments says CEO

Abu Dhabi wealth fund Mubadala Investment Company will focus on investments across Asia, CEO and managing director Khaldoon Al Mubarak has said.

“Asia in general, we are under-invested,” Reuters reported, quoting Al Mubarak at the Milken Institute Middle East and Africa summit.

“You have to take a very strong view on India, you have to take a strong view on South-East because that’s where growth is, that’s where the populations are growing,” he said.

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, the Emirati wealth fund officially opened an office in Beijing to further strengthen the growing economic relations between the UAE and China.

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• Mubadala Capital’s $8.7bn bid to privatise CI Financial
• Mubadala pharma subsidiary makes four acquisitions from Yas

Mubadala has significant exposure to the US and is focusing on artificial intelligence (AI) and private credit, with exposure to the asset class reaching almost $20 billion, Al Mubarak said.

The fund has $330 billion in assets under management, he said.

This month, Mubadala Capital, the alternative asset management subsidiary of Mubadala, agreed to acquire a 42 percent stake in US credit asset manager Silver Rock Financial, committing more than $1 billion in funds over time.