Bahrain's fund to double USD6.4b assets under management
(MENAFN) Bahraini sovereign fund Mumtalakat is considering new signings with international investment firms in order to double its current USD6.4 billion assets under management by 2022, Reuters reported.
The sovereign fund is presently standing at USD6.37 billion, aided by some prominent stakes in Aluminium Bahrain, Batelco, in addition to the global car company McLaren. Mumtalakat now wants to diversify by eying logistics and industrial markets.
'Our ambition is to double that size - five to seven years, we should be able,' State-owned Mumtalakat's chief executive said in an interview with Reuters, adding that the firm wants businesses where the present management could remain.
The sovereign fund is presently standing at USD6.37 billion, aided by some prominent stakes in Aluminium Bahrain, Batelco, in addition to the global car company McLaren. Mumtalakat now wants to diversify by eying logistics and industrial markets.
'Our ambition is to double that size - five to seven years, we should be able,' State-owned Mumtalakat's chief executive said in an interview with Reuters, adding that the firm wants businesses where the present management could remain.
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