mubadala abu dhabi
Mubadala has been quite active in these two years to spread its funds across geographies and sectors. Image Credit: Supplied

The Abu Dhabi sovereign fund Mubadala has struck an alliance with Bahraini counterpart Mumtalakat Holding Company for “strategic co-operation”. Mubadala has assets under management of $243 billion.

They will jointly explore co-investment opportunities worldwide and also exchange knowledge and best practices to enhance investment and operational capabilities.

Waleed Al Mokarrab Al Muhairi, Mubadala’s Deputy Group CEO, said: “The agreement signed today will not only create a platform to enable us to explore mutually beneficial co-investment opportunities around the globe, but it will also facilitate knowledge sharing to strengthen our respective organisations’ investment platforms.”

Launched in 2006, Mumtalakat's asset size is valued at $18.9 billion with investments in more than 60 international enterprises. About 60 per cent of its investments are within the region, while Europe's share is 32 per cent.

"Mumtalakat is committed to helping drive the economic transformation of the Kingdom of Bahrain by continuing to grow and add value to our portfolio,” said Khalid Al Rumaihi, Mumtalakat's CEO. “Our partnership with Mubadala not only strengthens our collective operational capacity but also bolsters historical ties, which supports our work in transforming the Bahraini economy.”