MENA SPACs drive gains momentum as Abu Dhabi sovereign fund prepares to launch its own

July 2, 2021

Investor mania for SPACs is accelerating in the oil-rich Gulf, where Abu Dhabi sovereign fund Mubadala is poised to launch two blank-check companies and a Dubai-based asset manager is raising $200 million to target mergers with companies focused on technology and healthcare in the Middle East, the Financial Times reports.

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Abu Dhabi Sovereign Fund Mubadala Prepares Two SPACs: FT Report and Sovereign Wealth: Mubadala Creates its own SPAC (SWF Institute)