Abu Dhabi, capital of the United Arab Emirates, is one of the richest places in the world, with gross domestic product per capita of nearly $100,000. Its wealth is largely derived from extensive oil reserves, but the emirate's government is keen to diversify the economy and, in 2002, founded business development and investment company Mubadala to invest in long-term, capital-intensive projects that are both commercially viable and socially beneficial.
Initiatives include gas pipelines, private healthcare and even the recently established Paris-Sorbonne University in Abu Dhabi. Such schemes do not come cheap, however, so Mubadala aims to derive at least part of its funding from the capital markets.
