Abu Dhabi's Mubadala fund to invest in spacetech and AI this year
Recently, Mubadala and Goldman Sachs partnered to invest $1 billion in private credit deals in Asia, focusing on India.
Abu Dhabi-based Mubadala Investment Co plans to spend heavily on artificial intelligence (AI) and spacetech this year, according to a statement shared on Zawya.
The sovereign wealth fund has also committed itself to investing more in the United States, said Khaldoon Mubarak, Managing Director of , speaking at an investor conference in Abu Dhabi.
"We plan to invest more in the US market and deepen strategic and forward-looking investment products in the UK, Europe, and France. We are in the business of driving progress and investing in solutions to global challenges," Mubarak added.
However, he did not specify the amount of capital that Mubadala is planning to invest this year in the United States, in China or in any other country.
Recently, Mubadala and Goldman Sachs partnered to invest $1 billion in private credit deals in Asia, focusing on India. The sovereign fund plans to double its exposure to Asia by 2030 through private credit, a method where companies can raise funds through tailored financing products from non-bank lenders.
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Founded in 2017, Mubadala manages a $276 billion portfolio worldwide on six continents mostly in North America and Europe. It has recently strengthened its exposure in the Asia Pacific and has offices in London, Moscow, New York, and Beijing.
In March 2023, Mubadala and Ares formed a joint venture to invest in global credit markets, initially targeting $1 billion. Mubadala committed a further $1 billion to Blue Owl Capital's credit platform in the same year.
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Edited by Affirunisa Kankudti