- Abu Dhabi has been ranked as the world's top city for sovereign wealth fund (SWF) capital, managing $1.67 trillion in assets, according to a new report by industry specialist Global SWF.
- The UAE capital is home to major funds including the Abu Dhabi Investment Authority, Mubadala Investment Company and investment and holding company ADQ. The report also included the assets of the Abu Dhabi Fund for Development, Tawazun (including Edge) and federal fund the Emirates Investment Authority, it said.
- Abu Dhabu’s Mubadala Capital has agreed to acquire a controlling stake in Babel, a Madrid-based IT and digital transformation services provider.
- The acquisition, which is subject to regulatory approval, further expands Mubadala’s presence in the business services sector, following its earlier purchase of Dutch safety-critical training company RelyOn Nutec this year.
- Abu Dhabi renewable energy firm Masdar and Iberdrola have completed turbine installation at the 476-megawatt (MW) Baltic Eagle offshore wind farm in Germany.
- Masdar said the 50 wind turbines, each with a unit capacity of 9.53 MW, were supplied by Vestas and installed by the shipping company Fred. Olsen Windcarrier.
- Saudi Arabia's Public Investment Fund (PIF) has increased its investment plan for green projects to over $19.4 billion (Dh71.2 billion), encompassing 91 eligible initiatives in renewable energy and clean transportation, among other areas.
- In its second 'Allocation and Impact Report', PIF updated the status of its green bonds as of June 30.
Great insights into the latest investment trends! ??