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Mubadala and IPIC Officially Merge

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On January 21, 2017, Sheikh Khalifa bin Zayed Al Nahyan, the ruler of Abu Dhabi, issued a law creating the Mubadala Investment Company, a company wholly-owned by the government of Abu Dhabi. Mubadala Investment Company is now the parent entity of both the International Petroleum Investment Company (IPIC) and Mubadala Development Company and their respective assets. The 2017 law had formalized the June 29, 2016 announcement that IPIC and Mubadala Development agreed to merge.

Mubadala Investment Company Profile

Combined, Mubadala Investment Company has US$ 125 billion in assets, spanning in more than 30 countries. The merged entity will have 68,000 employees. The Mubadala Investment Company will be managed by Mubadala Development’s CEO Khaldoon al-Mubarak.

SWFI will report on more details.

Angolan Government Cancels Port Concession, Reviews Others

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Atlantic Ventures SA, which has ties to Isabel dos Santos (daughter to former Angolan president,) lost its concession rights to construct a US$ 1.5 billion port – the Barra do Dande port – near Luanda. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Egyptian Parliament Passes Draft Law on Misr Fund

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Egypt’s state news agency revealed the country is forming a sovereign wealth fund with initial capital of 5 billion Egyptian pounds, with 1 billion Egyptian pounds of that amount being immediately transferred from the Egyptian public treasury. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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