Mubadala Investment Company, the newly-formed strategic investment company wholly owned by the government of Abu Dhabi, will organise its approximately Dh460 billion ($125 billion) portfolio into four investment platforms of significant scale.
The sectors include: Petroleum & Petrochemicals; Technology, Manufacturing & Mining; Aerospace, Information & Communications Technology, & Renewables; and Alternative Investments & Infrastructure.
Last month, UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan, his capacity as the Ruler of Abu Dhabi, issued a law establishing the Mubadala Investment Company. Stakes of the Government of Abu Dhabi in the Mubadala Development Company and International Petroleum Investment Company (IPIC) were transferred to the new company.
The organisational structure of the new company and its senior management team were endorsed by the company's board of directors chaired by HH Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and its vice-chairman HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE and Minister of Presidential Affairs.
The decision was made at the board meeting held on February 15 chaired by Sheikh Mansour.
The company’s four investment platforms will help accelerate diversification of the Abu Dhabi economy, through strategic investments across critical sectors within the United Arab Emirates and abroad.
Details of the new organisation can be found at www.mubadala.com and www.ipic.ae.
In terms of asset size, the platforms are: Petroleum & Petrochemicals (31.1 per cent), including significant investments in companies such as CEPSA, Nova Chemicals, Borealis and Mubadala Petroleum; Alternative Investments & Infrastructure (31 per cent), with significant equity investments worldwide and in different sectors including health care and real estate; Technology, Manufacturing and Mining (21.6 per cent), with significant investments in Globalfoundries, Emirates Global Aluminium, AMD, and Matsa; and Aerospace, ICT & Renewables (10.6 per cent), with investments including Yahsat and Masdar.
Corporate assets, including cash, will hold the balance (5.7 per cent) of the portfolio, said the statement.
Khaldoon Khalifa Al Mubarak, managing director and CEO of Mubadala Investment Company, said: “This marks an important milestone for the new company. Committees comprising Mubadala and IPIC leaders, have worked very hard over the past six months to put in place a proposal for a structure that will best serve the new company’s mandate.
"The structure, governance and world-class talent will enable the Mubadala Investment Company to be an investment powerhouse for Abu Dhabi,” he said.
Al Mubarak said he expected the Mubadala Investment Company to begin operations in May of 2017. - TradeArabia News Service