The Sovereign Wealth Fund Institute, the global organisation which studies and ranks state-controlled investments funds around the world, has named UAE’s Khaldoon Al Mubarak the world’s top public investment executive.
Mr Al Mubarak is the chief executive and managing director of Mubadala Investment Company, Abu Dhabi's strategic investment firm with assets exceeding $226 billion.
SWFI’s sixth Annual Public Investor 100 includes some of the most significant and impactful public investment figures who are managing sovereign wealth, endowment, and pension funds globally.
“The new list allots higher points to executives who have successfully navigated current headwinds facing the asset owners,” the US-based SWFI said in a statement on Thursday.
“SWFI analysed a number of dimensions when compiling the list including innovation, funding, environmental circumstances, returns, unique programmes, and initiatives undertaken.”
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The only other Arabian Gulf investor to join Mr Al Mubarak among the top-10 ranked professionals is Yasir Al Rumayyan, managing director of Saudi Arabia’s Public Investment Fund who is ranked sixth in the list.
The accolade for Mr Al Mubarak comes after an active deal-making spell for Mubadala. Since the merger with Ipic in 2017, the company has focused on integration and shaped the business to drive returns for its shareholders.
Mubadala, which invests globally across 15 sectors, is central to Abu Dhabi’s efforts to diversify its economy away from oil. The company has actively pursued investments in Europe and Asia, with a focus on China, the world’s second-biggest economy, to further strengthen its international portfolio.
It has also monetised some of its mature assets and financial holdings and its fully-owned integrated energy subsidiary Cepsa is planning to list 25 per cent of its share capital on Spanish exchanges in a deal that could raise as much as €2.02 billion.
With Abu Dhabi Investment Council joining Mubadala in March this year, the investment vehicle has the additional scale and breadth to continue pursuing quality assets across the globe.
Mubadala reported total comprehensive income Dh10.6bn at the end of the first half of this year, with total assets, including consolidated ADIC holdings, reaching Dh832bn, the company said in September.
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Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
