By Greg Gao

(JW Insights) Sep 13 -- The third-largest sovereign wealth fund in the United Arab Emirates (UAE), Mubadala Investment Company, has officially established an office in Beijing, according to a report from Chinese digital newspaper The Paper. 

Informed sources have revealed that Mubadala’s Beijing team comprises approximately ten individuals responsible for direct investments and fund investments in China. 

As per Mubadala Investment Company’s official website, it manages assets exceeding $276 billion.

Mubadala Investment Company has indicated its flexibility in investments ranging from $500 million to $2.5 billion, aiming for larger-scale transactions. They have already invested in over 80 projects across various sectors, including technology, consumer goods, and healthcare. Some famous companies in their portfolio include Kuaishou, BOSS Zhipin, and XPeng Motors. Notable investments made by Mubadala Investment Company in China this year include SHEIN, JD Industrial, and Hasten Biopharma, said the report.

Among the well-known sovereign wealth funds in the UAE, the top three are the Abu Dhabi Investment Authority, Investment Corporation of Dubai, and Mubadala Investment Company. Mubadala Investment Company has been highly active in China this year, with its executives making multiple visits to Chinese investment institutions.

While economic ties between China and the Gulf states remain anchored by energy interests, bilateral relations have expanded under the region’s infrastructure, technology, financial push and amid Sino-U.S. geopolitical tensions. “Our Asia investment strategy has been in place for several years, with promising growth prospects throughout the region,” said a Mubadala spokesperson when contacted by Reuters about its China investment plans, according to a report from Reuters.