Bahrain's sovereign wealth fund is in talks to contribute to the $97.7bn SoftBank-managed fund, according to its chief executive.
Bahraini sovereign wealth fund Mumtalakat has begun negotiations concerning a commitment to telecommunications and internet group SoftBank’s Vision Fund, which has so far secured $97.7bn, Reuters reported today.
Vision Fund reached $97.7bn in November 2017, six months after its $93bn first close. In addition to investment from SoftBank, the fund’s limited partners include fellow corporates Apple, Qualcomm, Sharp and Foxconn.
The largest external contributors to Vision Fund however are Saudi Arabia’s Public Investment Fund, which provided $45bn, and Abu Dhabi’s Mubadala Investment Company, which supplied $15bn.
Mumtalakat was first reported as being in talks with the fund in October, but the discussions are still in an early stage, according to Reuters.
Mahmood AlKooheji, Mumtalakat’s CEO, told Reuters: “We are talking to them, we have not made any commitment yet. I think it is very interesting, and a lot of people have already put a lot of tickets.”
Vision Fund has so far committed about $40bn of its capital, its largest deals being the $7.7bn purchase of a stake in Uber reportedly sized at about 15%, and a $4.6bn investment in another ride hailing service, Didi Chuxing.
