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Mubadala Shifts Focus from Emerging Markets

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emerging markets sovereign wealth funds

Mubadala Development Company is altering its course from emerging markets to developed markets, its Deputy CEO Waleed al Muhairi told Reuters on February 25th. The Abu Dhabi state-owned investment vehicle had turned its attention to emerging markets as the United States and Europe were battered by financial crises. Public stocks in emerging markets had a challenging 2013. The Federal Reserve is expected to pullback on asset purchases. The sovereign wealth executive stated the fund will begin widening its footprint in markets with long-term potential in 2014.

“We’re of course looking at emerging markets, but also to markets like the U.S. and Europe in particular, as recession is being replaced by signs of recovery,” he said.

Mubadala had US$ 55.5 billion in assets under management as of June 2013. Its European portfolio currently consists of renewables (United Kingdom, Germany and Spain), semiconductors (Germany) and aerospace technology (Switzerland and Italy).

In the United States, Mubadala has existing investments in information and communications technology (Prodea Systems and Damballa), real estate (Viceroy Hotel Group) and semiconductors (Global Foundries). The sovereign fund also holds shares in General Electric, Advanced Micro Devices, The Carlyle Group, EMI Music Publishing, John Buck Company, The Raine Group LLC, and Related Companies.

Blackstone Defeated on Investa Office Fund Bid

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The Blackstone Group threw in the towel on a bid to take over the Investa Office Fund, a vehicle that owns prized Australian office properties. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek’s Bond Expected to Lure Retail Investors

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Singapore’s Temasek Holdings, through its subsidiary Temasek Financial (IV) Private Limited, is planning a 5-year bond that aims to yield 2.7% for retail investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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