The two companies will each allocate $4 billion in equity for the fund
over a three-year period, with all investments coming through GE Capital's origination and
servicing capacity. The two partners will also establish a clean energy
technology center in Masdar City, a new carbon neutral, zero-waste city
located in Abu Dhabi.
The two entities will also increase their ties in other ways. GE intends to commit up to $50
million to Masdar's second Clean-Tech Fund, while Mubadala will commit up
to $200 million to GE Industrial Investment Partners, a new fund that
will provide growth capital to companies in the healthcare, energy and
transportation industries. Additionally Mubadala said it has plans
to be a long-term GE shareholder, with the expectation of eventually
becoming one of the American conglomerate's top 10 institutional
investors. Mubadala will build its stake in GE through the open
market though.
- George White
See press release
