Abu Dhabi Wealth Fund Mubadala Expanding With Investment in Germany’s Evotec
- Date: 13-Oct-2020
- Source: Bloomberg
- Sector:Financial Markets
- Country:uae-top-picks
Abu Dhabi Wealth Fund Mubadala Expanding With Investment in Germany’s Evotec
Mubadala Investment Co. will invest 200 million euros ($235 million) in German pharmaceutical company Evotec SE as part of the Abu Dhabi wealth fund's plans to expand its portfolio.Mubadala, which manages $232 billion in assets, is among Gulf sovereign funds plowing their oil and natural gas wealth into technology to lessen their reliance on crude and help diversify their economies. The fund has said over the past few years that it's looking to boost its investments in technology.