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Mubadala and Mumtalakat to explore worldwide co-investment opportunities

Abu Dhabi - The partnership will strengthen collective operational capacity and also bolsters historical ties between the UAE and Bahrain

Mubadala Investment Company and Bahrain Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, Tuesday signed a Memorandum of Understanding (MoU) to facilitate strategic cooperation between the two institutions.

As part of the MoU, Mubadala and Mumtalakat will explore worldwide co-investment opportunities. They will also exchange knowledge and best practices to enhance their respective investment and operational capabilities.

Waleed Al Mokarrab Al Muhairi, Mubadala’s Deputy Group CEO, said, "We are excited to collaborate with a likeminded institution, such as Mumtalakat, who share our commitment to building long-term, sustainable relationships. 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."

Khalid Al Rumaihi, Mumtalakat's CEO, said, "Mumtalakat is committed to helping drive the economic transformation of the Kingdom of Bahrain by continuing to grow and add value to our portfolio. 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."

business@khaleejtimes.com