ABU DHABI (Reuters) – Abu Dhabi state investor Mubadala has opened an office in New York, the state fund’s second in the United States, its deputy chairman Waleed al-Muhairi said on Wednesday.
A company spokesman told reporters that Mubadala’s New York office opened on April 1 and will employ ten people. The team will focus on financial services and private equity investments.
The state fund’s venture capital arm, launched in 2017 to oversee an early growth fund set up with Japan’s SoftBank and a fund of funds focused on emerging fund managers, is already based in San Francisco.
A spokesman said Kevin Kokko, a director from Mubadala Capital’s team, will head the New York office.
“From the investment standpoint, these two are the centers of gravity,” the spokesman said of the two U.S. office locations.
Mubadala, which manages over $225 billion in assets, committed $15 billion to the $100 billion SoftBank Vision Fund. Saudi Arabia’s Public Investment Fund allocated $45 billion.
Among major U.S. investments, Mubadala owns a minority stake in buyout firm Carlyle and Advanced Micro Devices.
