Abu Dhabi
Mubadala Investment Company formed by the merger of two Abu Dhabi state owned entities on Thursday announced that its board has endorsed the new structure for the company. The board of directors of investment company also announced the senior management team under the newly created platforms.
Mubadala Investment Company was recently formed by the merger of Mubadala Development Company and international petroleum investment company (Ipic). Khaldoon Khalifa Al Mubarak is the new managing director and CEO of the newly created company, as announced earlier.
In other senior positions, Waleed Al Mokarrab Al Muhair will be the Deputy Group CEO & Chief Executive Officer, Alternative Investments and Infrastructure, Homaid Al Shimmari is the Deputy Group CEO & Chief Human Capital & Corporate Officer and Musabbeh Al Kaabi is the Chief Executive Officer of the Petroleum & Petrochemicals.
“This marks an important milestone for the new company. Committees comprised of 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,” stated Al Mubarak.
Expected to begin operations in May this year, the total assets of Mubadala Investment Company stand at $125 billion.
The company has been set up across investment platforms of significant scale — Petroleum & Petrochemicals (31.1 per cent); Technology, Manufacturing & Mining (21.6 per cent); Aerospace, Information & Communications Technology (10.6 per cent); and Renewables and Alternative Investments & Infrastructure (31 per cent).
Under petroleum and petrochemical platform companies included are Cespa, Nova Chemicals, Borealis and Mubadala Petroleum, in Alternative Investments & Infrastructure platform there are significant equity investments worldwide and in different sectors including health care and real estate.
There are also significant investments under Technology, Manufacturing & Mining platform in Globalfoundries, Emirates Global Aluminium, AMD, and Matsa and in Aerospace, ICT & Renewables platform investments are in Yahsat and Masdar.
