Connect with us

Mubadala, Pramerica launch joint venture firm

Published

on

According to Emirates Business 24/7, “Mubadala Development Company and Pramerica Real Estate Investors, a unit of US-based Prudential Financial, have agreed to set up a company that will raise capital to fund and invest in real estate projects in Abu Dhabi and other international markets.

Mubadala Pramerica Real Estate Investors (Mubadala Pramerica REI), the joint venture, will be owned equally by the two companies and will be headquartered in Abu Dhabi.

“The joint venture will become operational soon, but we are not in a position to specify a date,” a Mubadala spokesperson told Emirates Business.

In a press statement, Waleed Al Muhairi, Chief Operating Officer for Mubadala, said: “By partnering with Pramerica, we’re bringing together one of the world’s leading real estate investment companies with our regional market expertise and knowledge. This is a compelling prospect for investors that want to participate in the current and future growth of the region.”

The joint venture, according to the spokesperson, will only raise capital to fund and invest in real estate projects and will not develop, or act as a developer of real estate projects.

“The JV will be contracting with real estate developers to build and develop the real estate projects it will invest into.”

Mubadala has already set up two other joint ventures for development purposes.”

Emirates Business 24/7

ADIA Seeks to Sell KIC Headquarters

Published

on

The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

Published

on

The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Just Group Acquires Corinthian Pension Consulting

Published

on

Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.