The newly formed Mubadala Investment Company officially launched on Monday, following the January merger of Mubadala Development Company and International Petroleum Investment Company.
The new company has around $125bn (Dhs459bn) in total assets, and was formed earlier this year following a royal decree by His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi, who issued a law to create one of the largest state-owned investment funds in the world.
Based in Abu Dhabi, Mubadala Investment Company has a presence in more than 30 countries around the world, and employs around 68,000 people. It is active in 13 sectors, including petroleum and petrochemicals, technology, manufacturing and mining, aerospace, ICT, renewable energy and management of diverse financial holdings.
Group CEO and managing director of the new company, Khaldoon Khalifa Al Mubarak, addressed employees at an internal event in Abu Dhabi to mark the first day of operations, where the organisation also unveiled its new logo.