Mubadala launches $1b Abu Dhabi-based investment fund

Set up in 2015, the Abu Dhabi Global Market is Abu Dhabi’s financial free zone, home to banks, investment funds, asset managers and tech companies. (File/Shutterstock)
Updated 26 April 2019
0

Mubadala launches $1b Abu Dhabi-based investment fund

  • The new fund will be based in Abu Dhabi Global Market (ADGM)
  • Mubadala manages more than $225 billion in assets and has committed $15 billion to the $100 billion SoftBank Vision Fund

ABU DHABI: State-owned Mubadala Investment Company said it has launched a new $1 billion fund, Abu Dhabi Catalyst Partners, to explore opportunities within the UAE and abroad.
The new fund will be based in Abu Dhabi Global Market (ADGM), the financial center of Abu Dhabi, and will make use of Mubadala’s networks to originate investment opportunities in the region, Mubadala said in a statement.
“The new fund will target opportunities across asset management, speciality finance and financial infrastructure, with investees expected to have a presence in ADGM,” it said.
Mubadala manages more than $225 billion in assets and has committed $15 billion to the $100 billion SoftBank Vision Fund. It has equity stakes in companies including General Electric and private equity firm Carlyle Group.
Set up in 2015, ADGM is Abu Dhabi’s financial free zone, home to banks, investment funds, asset managers and tech companies.


MODON to establish integrated pharmaceutical complex

Updated 23 May 2019
0

MODON to establish integrated pharmaceutical complex

JEDDAH: The Saudi Authority for Industrial Cities and Technology Zones (MODON) has signed an industrial land lease covering more than 62 thousand square meters in the city of Madinah, to build a pharmaceutical complex including research and development centers, with a total investment reaching SR 570 million.

MODON’s Director General Khalid bin Mohammed Al-Salem said that the signing of the contract was the result of joint work with the National Program for the Development of Industrial Compounds. MODON provided various facilities and incentives to support the investment, with the project set to provide nearly 1000 jobs for both genders with a localization rate exceeding 50 percent.

He added that the project is in line with the goals of the National Industrial and Logistics Development Program (NIDLP) to localize the most advanced industries in the world, in accordance with Saudi Vision 2030 for economic diversification.

Since its inception in 2001, MODON has been developing integrated industrial lands in accordance with the highest international standards. It currently oversees 35 industrial cities under development in various regions of the Kingdom, in addition to supervising private industrial parks and cities. The developed industrial lands exceeded until today 198.8 million square meters, while the existing industrial cities include 3,474 productive factories.