GE Commercial Finance has set up a
global joint venture with an Abu Dhabi investment company, the
Mubadala Development Company.

The two companies plan to establish a jointly-owned global
commercial financial services business headquartered in Abu Dhabi,
which will offer origination, funding and risk management

This move highlights the growing potential of the Abu Dhabi’s
investment vehicle and how Western companies are looking to tap
into the Gulf, particularly GE, which is looking to deepen its
strategic relationships in the Middle East.

Both companies will allocate US$4bn in equity for the venture to
establish the financial services business, over a three-year
period. The new business will be modeled on GE Capital, and will
invest in areas such as infrastructure and real estate. It will
target assets in excess of US$40bn.

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By GlobalData