Latest news with #Mubadala
Al Etihad
3 hours ago
- Business
- Al Etihad
Solutions+ and Serco partner to build national champion in facilities management
28 June 2025 13:28 ABU DHABI (ALETIHAD)Solutions+, a leading UAE business consultancy offering digital solutions and shared services, wholly owned by Mubadala, and Serco, a global provider of essential public services, have announced the expansion of Khadamat Facilities Management L.L.C. through a strategic partnership aimed at advancing the UAE's leadership in Integrated Facilities Management (IFM).The agreement was signed between Nasir Al Nabhani, Managing Director of Solutions+ and Phil Malem, CEO of Serco Middle East, and was witnessed by Homaid Al Shimmari, Chairman of the Solutions+ Board, alongside Dr. Bakheet Al Katheeri, Chief Executive Officer of Mubadala's UAE Investments platform, and Anthony Kirby, Group CEO of Serco, at a signing ceremony in Abu the new structure, Solutions+ and Serco will jointly consolidate IFM service contracts into Khadamat Facilities Management L.L.C. to create a national IFM champion. The collaboration leverages the complementary strengths of both organisations: Solutions+ in driving digital and operational transformation, and Serco in delivering world-class public services across transport, real estate, healthcare and citizen enhanced partnership is a pivotal step towards delivering operational excellence, innovation, and sustainability across the UAE's critical infrastructure. It reflects a shared commitment to Emiratisation, local value creation, and long-term capability building, in line with national development goals.'This marks a major milestone in our journey to become a leader in smart and efficient service delivery,' said Nasir Al Nabhani, Managing Director of Solutions+. 'By combining our digital first approach with Serco's international IFM expertise, we are setting a new benchmark for integrated service excellence that supports the UAE's long-term infrastructure ambitions, in line with Mubadala's UAE Investments platform strategy.''We are proud to strengthen our partnership with Solutions+ through the expansion of Khadamat FM,' added Phil Malem, CEO of Serco Middle East. 'This partnership allows us to deliver even greater value to our clients and communities, while supporting the UAE's vision for a more sustainable, innovative, and locally empowered facilities management sector.'Serco's Group Chief Executive Officer Anthony Kirby said, 'Partnering with Solutions+ to build a national IFM champion in the UAE not only reflects our commitment to investing in key growth markets, but also demonstrates the power of collaboration in delivering better services, meaningful local impact, and long-term value for governments and citizens alike.' By combining global best practices with local insight, the partnership reinforces Serco's purpose to impact a better future and support government visions, and Solutions+' ambition to lead the next generation of smart, efficient, and customer centric facilities management services across the Emirates. Source: Aletihad - Abu Dhabi
UAE Moments
18 hours ago
- Business
- UAE Moments
UAE, Saudi Firms Rank in TIME100 Most Influential Companies
UAE's artificial intelligence firm G42 and Saudi Arabia's Diriyah have been named in the world's 100 most influential companies for 2025 by TIME magazine. G42 G42 is a privately owned company, in which the Mubadala Investment Company, Silverlake, Microsoft and The Dalio Family Office have invested. In 2024, G42 received a $1.5 billion investment from Micrsoft to advance its international expansion and solidify UAE's position as a global technology hub. The partnership also included a one-billion-dollar fund to support developers. Last month, G42 announced a partnership with OpenAI, Oracle, and Nvidia to boost the AI sector in the UAE. As part of the partnership, the companies will launch Stargate UAE. The AI firm has launched a new unit G42 Europe and the UK and partnered with France' Mistral AI. G42 is planning to invest one-billion dollars in Kenya's digital ecosystem. Diriyah Diriyah is part of Saudi Arabia's Public Investment Fund (PIF) portfolio. The company is building a $63.2 billion mixed-use development, Diriyah, near Riyadh. The development is expected to host over 100,000 residents, workers, students and visitors. Diriyah will also feature a wide range of cultural, entertainment, educational, hospitality, retail, and residential spaces. Diriyah promises carbon-free construction, energy efficiency, water conservation, cultural preservation, and human-centric development.
The National
a day ago
- Business
- The National
TIME100 Most Influential Companies list includes Abu Dhabi AI firm — a first for the UAE
UAE artificial intelligence major G42 and Saudi Arabia's Diriyah have been named among the world's 100 most influential companies for 2025 by Time magazine. It is the first time a UAE company has made it on to the prestigious list. China's Alibaba, global asset management company BlackRock, Japanese video game company Nintendo, China's ByteDance, Chinese EV company BYD, DeepSeek, SoftBank, Hyundai and LinkedIn were also included on the list. To select its 100 most influential companies, the magazine requested suggestions and applications from across sectors, surveyed its contributors and correspondents from around the world, and also sought advice from outside experts. Factors it considered included the impact made by companies as well as metrics related to innovation and success. G42 G42, owned by Abu Dhabi's sovereign wealth fund Mubadala Investment Company, has been rapidly expanding its operations across the globe since its inception in 2018. Last year, G42 received a $1.5 billion investment from Microsoft to boost its international expansion plans and strengthen the UAE's position as a global technology hub. The expanded partnership also included the creation of a $1 billion fund to support developers aimed at enhancing the Middle East's technology talent pool. The deal marked an early signal of the AI push from the region and globally. Last month, it announced a partnership with technology giants OpenAI, Oracle and Nvidia to create a major AI hub in the UAE. As part of the agreement, the companies will set up Stargate UAE, expected to be the largest AI infrastructure outside the US. It will be a one-gigawatt computing cluster that operates in the newly established 5GW UAE–US AI Campus, Abu Dhabi Media office reported last month. Cisco and Japan's SoftBank will also be part of the new project. Earlier this month, the company announced that it has set up a new unit, named G42 Europe and UK to serve those markets as part of its expansion plans. Other deals unveiled by the company recently include a partnership with France's Mistral AI to develop advanced AI platforms and infrastructure, as well as a collaboration with Italian start-up iGenius to develop a major AI supercomputer. 'With plans for Europe's first giga-scale AI supercomputer and other projects under way in Kenya and the US, G42's footprint is now global,' Time magazine wrote. Last year, G42 said it would jointly invest $1 billion in Kenya's digital ecosystem to develop the East African nation's technology sector. This week, G42 celebrated its seventh anniversary with an event that featured virtual appearances by Microsoft president Brad Smith and OpenAI chief executive Sam Altman. Diriyah Diriyah Company, part of the kingdom's Public Investment Fund portfolio, is the second Saudi company to be recognised by Time, after Saudi Aramco in 2024. It is developing Diriyah, a $63.2 billion mixed-use development covering 14 square kilometres, near the Saudi capital, Riyadh. The development is expected to eventually host more than 100,000 residents, workers, students and visitors, with a range of cultural, entertainment, retail, hospitality, educational and residential spaces. 'Being recognised as one of the Time100 Most Influential Companies is a powerful affirmation of Diriyah's mission to lead with purpose: by honouring our heritage, uplifting our community, and embracing world-class sustainability and hospitality standards,' Diriyah Company Group chief executive Jerry Inzerillo said in a statement on Thursday. 'From carbon-free construction, energy efficiency and water conservation, to cultural preservation and human-centric development, every aspect of Diriyah's development reflects a commitment to minimising our environmental footprint while maximising quality of life for nearly 100,000 future residents.' History Time's 100 most influential people list has, over the years, named: Sheikh Tahnoon bin Zayed (2024) Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser, was named one of the 100 most influential people in artificial intelligence in 2024. Sheikh Tahnoon is also the chairman of G42 and of the International Holding Company. Faisal Al Bannai (2024) Faisal Al Bannai, an adviser for strategic research and advanced technology affairs to the President of the UAE, was featured on the Time list. Dr Sultan Al Jaber (2023) Dr Sultan Al Jaber is the UAE's Minister of Industry and Advanced Technology as well as Adnoc's managing director and group chief executive. Dr Al Jaber was also the President of the Cop28 climate summit held in Dubai in 2023. He was featured for his business climate leadership and efforts to boost energy transition. Omar Al Olama (2023) Omar Al Olama has been at the forefront of the UAE's drive to unlock the potential of artificial intelligence since being appointed the world's first AI minister in 2017. Sheikh Mohamed (2019) UAE President Sheikh Mohamed, then Crown Prince of Abu Dhabi, was named in 2019 for his leadership and vision. Loujain al‑Hathloul (2019) Loujain al-Hathloul is a Saudi women's rights activist who championed the cause of women driving in the kingdom. Rami Malek (2019) The American actor, who has Egyptian roots, won the Oscar for best actor in 2019 for his role as rock star Freddie Mercury in Bohemian Rhapsody. Wael Ghonim (2011) The Egyptian internet activist and former Google executive rose to prominence during the Arab Spring protests in Egypt in 2011. Prince Alwaleed bin Talal (2007) Prince Alwaleed bin Talal is the chairman of Saudi-listed Kingdom Holding, which has interests in sectors including aviation, banking and financial services, e-commerce, education, hotel management, health care and real estate.
Business Times
a day ago
- Business
- Business Times
BlackRock, Mubadala unwind partnership for Asia private credit: sources
[HONG KONG] BlackRock and Mubadala Investment have mutually agreed to unwind their Asian private credit partnership that focuses on investments in China and Indonesia due to challenges in sourcing deals, according to people familiar with the matter. Under the partnership, which started in 2023, the Abu Dhabi state-owned investment firm was to match every US dollar that BlackRock agreed to put in, said the people, who requested not to be named because the information is private. The world's largest asset allocators are forging alliances with private credit funds to capitalise on the rapidly expanding US$1.7 trillion private credit market. Mubadala is one of the most active investors in the space, building a portfolio of 73.5 billion dirhams (S$25.5 billion), backed by collaborations with firms including Apollo Global Management, Carlyle Group, and KKR. BlackRock did not respond to a request for comment. Mubadala declined to comment. The partnership has deployed only a limited amount of capital. Originating deals in China is proving difficult given the mid-teens return profile it's targeting, said the people. The head of private credit in Indonesia, Christopher Ganis, left in the early days of the collaboration for sovereign wealth fund Indonesia Investment Authority. That's made it difficult for deal origination in the country, the people added. BlackRock's head of Asia-Pacific private credit, Celia Yan, also left to join Apollo recently, just as the firm is finalising its integration with HPS Investment Partners. BlackRock last year agreed to buy HPS in an all-stock deal valued at about US$12 billion. The transaction is expected to be completed in the middle of this year, pending regulatory approval. The combined platform will expand to a team of 22 private market investment professionals with senior investor additions in Singapore and Sydney, according to an internal memo. BLOOMBERG
Bloomberg
a day ago
- Business
- Bloomberg
BlackRock, Mubadala Unwind Partnership for Asia Private Credit
BlackRock Inc. and Mubadala Investment Co. have mutually agreed to unwind their Asian private credit partnership that focuses on investments in China and Indonesia due to challenges in sourcing deals, according to people familiar with the matter. Under the partnership, which started in 2023, the Abu Dhabi state-owned investment firm was to match every dollar that BlackRock agreed to put in, said the people, who requested not to be named because the information is private.
