$1bn Mubadala fund set for big Abu Dhabi launch
Wednesday, 05 08 2019, Category: Economy, Country: U.A.E
Abu Dhabi Global Market, the global financial centre in the UAE capital, will be home to a newly set up $1-billion fund - Abu Dhabi Catalyst Partners - which will enjoy the backing of top Emirati group, Mubadala Investment Company.
The new enterprise will pursue opportunities that satisfy a mandate of establishing a hub for pioneering companies to locate at ADGM, to generate attractive returns while having a positive impact on the ADGM ecosystem.
The Abu Dhabi Catalyst Partners seeks to realise commercial returns by partnering with top-tier and up-and -coming investment firms and industry-leading businesses and professionals who will benefit from building a meaningful and sustainable presence in Abu Dhabi Global Market.
Four key investment principles guide Abu Dhabi Catalyst Partners: to positively impact the financial ecosystem; build on Abu Dhabi’s and ADGMs completive advantages; meet target returns; and create sustainable jobs in ADGM.
The fund will be backed by Mubadala Investment Company with the endeavor to leverageits networks locally and around the world to originate attractive investment opportunities in the region, said the statement.
Where applicable, the firm will also work with Mubadala investment teams and portfolio companies to pursue ADGM-related opportunities.
Minister of State and Chairman of ADGM Ahmed Ali Al Sayegh said: "We congratulate Mubadala Investment Company on the launch of Abu Dhabi Catalyst Partners and we welcome the establishment of their fund in ADGM."
"Today’s event embodies the vision and ambition of the leadership of Abu Dhabi in establishing ADGM to enable investments and capital flow through our Capital City. ADGM remains focused on its role and responsibility as a leading International Financial Centre with trusted regulatory, judicial, commercial and dispute resolution regimes and infrastructure supporting the economic development of Abu Dhabi," he noted.
Source: Trade Arabia