Does any part of Mubadala invest for purely financial returns — without a strategic objective?
Yes, although all our deployments of capital, even from a financial perspective, have had a strategic twist. For example, our investment in General Electric has certainly turned into not only one of our largest, and most important, deployments of capital on the financial-investing side but also into a very strong and very strategic relationship — as a result of the framework agreement that we’ve put in place. So what started out as, “Hey, we think it would be a great idea for you to invest in GE,” ended up with the creation of a significant joint venture, Mubadala GE Capital, along the lines of a GE Capital, here in Abu Dhabi. We have many examples of investments that start out as financial investments but take on a strategic angle. But nothing prevents us from looking at pure financial plays — and we will do so increasingly over time. How do you trade off financial returns against strategic contributions to society? We tend not to compromise on this. Part of the thinking is that if yo
