Manama, June 1 / BNA / Under the patronage of Sheikh Khalid bin Abdullah Al Khalifa, Deputy Prime Minister and Chairman of the Board of Directors of Bahrain Mumtalakat Holding Company “Mumtalakat”, the sovereign wealth fund of the Kingdom of Bahrain, Mumtalakat set up its investment portfolio today. .
The event was attended by Mumtalakat’s Board of Directors and management team along with representatives of the portfolio companies to discuss Mumtalakat’s new investment strategy and alignment with the Kingdom’s economic growth goals.
Sheikh Khalid bin Abdullah Al Khalifa emphasized the important role Mumtalakat plays in supporting the Kingdom’s economic growth initiatives led by His Majesty King Hamad bin Isa Al Khalifa and under the supervision of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister. Minister.
Sheikh Khaled highlighted the new strategy that will allow Mumtalakat to continue supporting the economic growth of the Kingdom by developing the fund’s assets and identifying new investment opportunities in line with the economic requirements of the Kingdom and in cooperation with all stakeholders.
The one-day event included sessions and workshops that discussed the principles and pillars of the new strategy for active management and effective representation on the Board of Directors. The event also presented the success stories of international entities that are managed by the same principles in addition to a few success stories of Mumtalakat in applying the same principles in some of its portfolio companies, the lessons learned during these transformational journeys, and the importance of forming management teams. in adopting the new strategy.
Khalid Al Rumaihi, CEO of Mumtalakat, said: “Portfolio Day served as a platform to discuss the new investment strategy and Mumtalakat’s role in supporting its investment portfolio companies to enhance financial returns and create job opportunities in Bahrain. In addition to identifying new investment opportunities in line with the Kingdom’s economic growth plans within new sectors including food security, financial technology, medical technology, vaccine manufacturing and others.
Mumtalakat’s portfolio includes more than 50 companies that hold the majority of their stakes in strategic Bahraini companies that represent 18% of the Kingdom’s GDP and support more than 12,000 jobs locally. It also contributed a total amount of BD100 million to the national budget between 2017 and 2021.
Mumtalakat’s portfolio includes some of the Kingdom’s leading companies such as Gulf Air, Alba, Batelco and the National Bank of Bahrain. In addition, the fund includes international direct investments and co-investments managed by leading international funds.
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