Renewable Energy

Mubadala launches $1 bln Abu Dhabi-based investment fund

State-owned Mubadala Investment Company said it has launched a new $1 billion fund, Abu Dhabi Catalyst Partners, to explore opportunities within the United Arab Emirates and abroad.

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ABU DHABI, April 26 (Reuters) - State-owned Mubadala Investment Company said it has launched a new $1 billion fund, Abu Dhabi Catalyst Partners, to explore opportunities within the United Arab Emirates and abroad.

The new fund will be based in Abu Dhabi Global Market (ADGM), the financial centre of Abu Dhabi, and will make use of Mubadala's networks to originate investment opportunities in the region, Mubadala said in a statement.

"The new fund will target opportunities across asset management, speciality finance and financial infrastructure, with investees expected to have a presence in ADGM," it said.

Mubadala manages more than $225 billion in assets and has committed $15 billion to the $100 billion SoftBank Vision Fund. It has equity stakes in companies including General Electric GE.N and private equity firm Carlyle Group CG.O.

Set up in 2015, ADGM is Abu Dhabi's financial free zone, home to banks, investment funds, asset managers and tech companies.

(Reporting by Stanley Carvalho, editing by Alexander Smith)

((Hesham.Hajali@thomsonreuters.com;))

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