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LONDON : The investment focus for Abu Dhabi’s sovereign wealth fund Mubadala will increasingly shift towards Asia, though the United States will remain a key market, the fund’s Chief Executive said on Thursday.
“The U.S. will remain I think an unbelievably attractive market and a key market for us,” Khaldoon Al Mubarak said at the 2023 Milken Institute Middle East and Africa Summit.
However, he said its main investment flows were changing, with less emphasis on the United States and Europe.
“The growth is in the east today,” Al Mubarak said, specifically citing India and Southeast Asia.
“It’s in big economies with big populations that are growing, and we didn’t have as much of a focus on that in the last 10 years. We have a lot more focus today. And we’re building up that capability.”
Media reports said that U.S. national security officials were scrutinising Mubadala’s $3 billion takeover of New York-based Fortress Investment Group, and Bloomberg last month reported that Middle Eastern wealth funds are facing greater US scrutiny as part of a pushback on entities potentially having closer ties to China.
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