Mubadala’s Al Muhairi banks on India investments for long term

Abu Dhabi sovereign wealth fund Mubadala is betting on India’s expanding infrastructure and technology businesses as it seeks long-term investment opportunities, Deputy Group CEO Waleed Al Muhairi said.

Al Muhairi, speaking on Tuesday at the Bloomberg New Economy Forum in New Delhi, also said a ruling against Abu Dhabi-owned Manchester City football club would not deter Mubadala from investing in the U.K.

Mubadala has already committed billions of dollars to Indian businesses, including a $1.2 billion investment in Reliance Industries’ digital services arm Jio Platforms in 2020. In 2022, it joined BlackRock in a $525 million investment in Tata Power’s renewable energy business.

“India has a massive infrastructure program that I think will not only benefit the country and its population, but also us as investors looking to invest in the country,” Al Muhairi said.

Regarding the Manchester ruling, in which the team was found guilty of all but one of 115 charges brought against it by England’s Premier League after a four-year investigation, Al Muhairi said that is a separate issue.

“We have been and continue to deploy in the United Kingdom, and what goes into our calculus for where we deploy are partnerships, risk-reward and what makes sense over time,” he said.