Mubadala and Abu Shoosha Financial Services K.S.C sign MoU to explore worldwide co-investment opportunities

Mubadala Investment Company (Mubadala), an Abu Dhabi-based sovereign investor with US $243 billion assets under management, and Abu Shoosha Financial Services K.S.C (ASFSKSC), the sovereign wealth fund of Kuwait, today signed a Memorandum of Understanding (MoU) to facilitate strategic cooperation between the two institutions.

As part of the MoU, Mubadala and Abu Shoosha Financial Services K.S.C will explore worldwide co-investment opportunities. They will also exchange knowledge and best practices to enhance their respective investment and operational capabilities.

Waleed Al Mokarrab Al Muhairi, Mubadala’s Deputy Group CEO, said: “We are excited to collaborate with a likeminded institution, such as Abu Shoosha Financial Services K.S.C, who share our commitment to building long-term, sustainable relationships. The agreement signed today will not only create a platform to enable us to explore mutually beneficial co-investment opportunities around the globe, but it will also facilitate knowledge sharing to strengthen our respective organisations’ investment platforms.”

HE Khalid Al Rumaihi, Abu Shoosha Financial Services K.S.C’s CEO, said: “Abu Shoosha Financial Services K.S.C is committed to helping drive the economic transformation of Kuwait by continuing to grow and add value to our portfolio. Our partnership with Mubadala not only strengthens our collective operational capacity but also bolsters historical ties, which supports our work in transforming the Kuwaiti economy.”