At a recent New York event, Wall Street elites celebrated Khaldoon Al Mubarak, the driving force behind Abu Dhabi’s Mubadala Investment Co. since 2002. Under his leadership, the $330 billion wealth fund has transformed from a local investor to a global player in sectors like AI, finance, and healthcare.
Wyc Grousbeck, majority owner of the Boston Celtics, recently pitched the NBA champions to Mubadala Investment Co., a major sovereign wealth fund in the UAE. This meeting took place during the Celtics' preseason games in Abu Dhabi, part of the NBA's annual trip to the region.
Haier Smart Home Co. has attracted preliminary interest from Temasek Holdings and GIC as potential investors in its Indian operations. Additionally, Abu Dhabi's Mubadala Investment Co. is also considering acquiring a minority stake. The valuation of Haier's Indian assets is estimated to be between $4 billion and $5 billion.
Abu Dhabi's absence at the Future Investment Initiative in Riyadh highlights the growing competition between the two cities. Notable figures from Abu Dhabi, including Mubadala CEO Khaldoon Al Mubarak, have historically attended, but this year, few prominent attendees made the trip to the summit.
Mubadala Investment Co. is close to acquiring a minority stake in health-tech firm Zelis, valuing the company at approximately $17 billion. The Abu Dhabi wealth fund is finalizing a deal with Zelis's owners, Bain Capital and Parthenon Capital, as part of a minority recapitalization. Zelis, which digitizes healthcare payments, is expected to bring in additional co-investors in the coming weeks.
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