Mubadala Capital, Aldar team up on $1 billion investment fund

Mubadala Capital, the asset management arm of Abu Dhabi’s Mubadala sovereign fund, and developer Aldar are pairing up to launch a platform that aims to connect global investors with real estate projects in the UAE and wider Gulf.

The new venture, to be called Aldar Capital and based out of Abu Dhabi’s ADGM free zone, is planning to raise $1 billion for its first fund next year.

“We have received significant inbound interest from a number of our existing investors who want exposure to the region,” Mubadala Capital CEO Hani Barhoush told Bloomberg.

The fund will invest across office buildings, residential real estate and logistics, transforming one of the UAE’s biggest developers into a manager of global capital.

The biggest shareholder in Abu Dhabi-listed Aldar is Alpha Dhabi, which is controlled by International Holding Co., the vast conglomerate overseen by UAE National Security Advisor Sheikh Tahnoon bin Zayed.