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Investment focus for Abu Dhabi wealth fund Mubadala will shift to Asia - CEO

Reuters
·1-min read

LONDON, Dec 7 (Reuters) - The investment focus for Abu Dhabi's sovereign wealth fund Mubadala will increasingly shift towards Asia, though the United States will remain a key market, the fund's Chief Executive Khaldoon Al Mubarak said on Thursday.

"The U.S. will remain I think an unbelievably attractive market and a key market for us," Al Mubarak said during a panel conference at the 2023 Milken Institute Middle East and Africa Summit.

In the past, investment flows were heading West with the fund heavily invested in United States, but also Europe, he added, but that was about to change.

"The growth is in the east today, and I look at the next 10-20 years, where we see growth - it is also coming in Asia it’s in India, its in Southeast Asia," Al Mubarak said, adding this was also where the fund would build capability to ramp up investments. (Reporting by Libby George, editing by Karin Strohecker)