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Mubadala Buys out Hewlett-Packard’s Stake in IT Joint Venture

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Mubadala Development Company announced today it had bought out the remaining 40% stake in Injazat Data Systems from Palo Alto-based Hewlett-Packard, bringing the United Arab Emirates-based information technology service provider under its full ownership. The size of the deal was not disclosed. According to Mubadala’s press release, the deal demonstrates the UAE sovereign wealth fund’s commitment to actively investing in information and communication technology infrastructure and operations, highlighting economic growth and high-tech job creation for Abu Dhabi as the motivation behind investing in this sector.

“Taking full ownership of Injazat is another significant step in the growth and maturity of Mubadala in this sector as we build upon our portfolio of reliable and secure data storage solutions and establish a thriving ICT industry here in the UAE,” said Homaid Al Shemmari, CEO of Aerospace and Engineering Services at Mubadala, in the press release. “We look forward to working with HP on future endeavors and exploring other synergistic opportunities.”

Established in October 2002 as a public joint stock company (PJSC), Mubadala Development Company PJSC is a wholly-owned investment vehicle of the Government of the Emirate of Abu Dhabi, in the United Arab Emirates. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Mauritius Aims to Sell Citizenship and Passports to Bolster National Wealth Fund

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The island country of Mauritius plans to offer foreigners a chance to obtain country citizenship in exchange for a non-refundable contribution of US$ 1 million to the national sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CapitaLand Aims to be a Real Estate Funding Machine

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CapitaLand Investment Management, a real estate investment management arm of Singapore-based CapitaLand, hired Caleb Shen as managing director for fund management. CapitaLand is keen on growing its real estate fund management business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Treasurer Perrottet Reveals the NSW Generations Fund

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New South Wales wants its own Future Fund.

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