Abu Dhabi creates a USD 125 bn fund: The government of Abu Dhabi merged Mubadala Development Co and International Petroleum Investment Co to create the USD 125 bn Mubadala Investment Co, Reuters reported. Using 2015 valuations and data from the Sovereign Wealth Fund Institute, Mubadala Investment would be the world’s 14th largest investment fund. The fund will be run by CEO Khaldoon Al Mubarak, formerly the chief of Mubadala Development. “Mubadala Investment will have a total of 68,000 employees globally with partnerships and businesses in 30-plus countries, it said in a statement.”

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