Skip to content Skip to Search
Skip navigation

Bahrain anchors Investcorp’s $750m climate fund

By Pramod Kumar
Bahrain's Investcorp says the $750m Climate Solutions Partners platform will help companies trying to accelerate decarbonisation Unsplash.com/ Marek Piwnicki
Bahrain's Investcorp says the $750m Climate Solutions Partners platform will help companies trying to accelerate decarbonisation

Bahrain’s sovereign wealth fund, Mumtalakat Holding Company (Mumtalakat), will anchor Manama-based alternative asset manager Investcorp’s $750 million climate fund.

The launch comes as Cop28 kicks off in the UAE, with negotiators striking the first deal of the summit – agreeing to set up a fund to help vulnerable countries recover from damage caused by climate change.

The “Climate Solutions Partners” fund will focus on providing capital to international companies active in helping consumers and corporates to accelerate decarbonisation, state-run Bahrain News Agency reported.

The fund will invest in “commercially proven climate solutions with the potential to transform” carbon management, building, transportation and food and agriculture, Investcorp added.

No details were given on Mumtalakat’s investment in the fund.

“Climate change is one of the most compelling investment opportunities for the coming years and it is critical that the GCC and wider Mena region is positioned to lead in the energy transition and the new solutions which will be required,” said Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat.

Abu Dhabi state fund Mubadala Investment Company acquired 20 percent of Investcorp in 2017.

Latest articles

Dubai's appointment of chief AI officers is part of a broader push to adopt the technology

Dubai to appoint AI officers across all government entities

Dubai has ordered that all government entities must appoint a chief artificial intelligence officer, as part of a new drive to embrace the new technology. The Dubai Universal Blueprint for Artificial Intelligence was launched on Monday and as part of the initiative the new government AI officers will be tasked with leading specialised AI projects […]

Teenage students use a laptop and tablet. One cybersecurity expert said pupils' personal devices could increase the risk of data breaches

Cybercrooks have their eyes on Gulf schools, experts warn

The education sector in the GCC has emerged as a prime target for cybercriminals because of budgetary constraints and a lack of expertise, tech experts have told AGBI. “Schools, in particular, are vulnerable due to their extensive storage of sensitive personal information and comparatively lower investments in cybersecurity,” said Ram Narayanan, country manager at Check […]

UAE Minister of State for Foreign Trade Dr Thani Al Zeyoudi meets with Tiit Riisalo, Estonia’s Minister of Economic Affairs and Information Technology

UAE and Estonia look to AI and health tech to grow trade

The digital economy is expected to be at the forefront of trade between the UAE and Estonia as the former Soviet state positions itself to become a European centre for deep tech projects. Officials from both countries met on Saturday in Abu Dhabi, with artificial intelligence and health tech highlighted as areas for greater collaboration. […]

$290m fund set up to develop Riyadh business park

A $290 million fund has been set up in Saudi Arabia to develop a new business park in Riyadh as the city struggles to meet growing demand.  Ezdihar Real Estate Development Company and Al-Istithmar Securities and Brokerage Company, the investment arm of the Saudi Investment Bank, said the fund will focus on a 103,000 sq […]