Google+ Followers

Sunday, 22 January 2017

Abu Dhabi creates $125 billion fund by merging Mubadala, IPIC | Reuters

Abu Dhabi creates $125 billion fund by merging Mubadala, IPIC | Reuters:

"Abu Dhabi's government merged two of its top investment funds on Saturday to strengthen their financial clout in an era of low oil prices, creating a company with assets totaling about $125 billion. The new fund, Mubadala Investment Co, was formed by merging Mubadala Development Co and International Petroleum Investment Co, which own corporate stakes in the energy industry and other sectors across the world. The new firm's assets will total about $125 billion, based on valuations at the end of 2015, make it the world's 14th largest sovereign fund, according to data from the Sovereign Wealth Fund Institute, which tracks the industry."



'via Blog this'