Abu Dhabi’s Mubadala Investment Corp has promoted Richard Nordell to executive director of infrastructure to lead the sovereign wealth fund’s infrastructure unit, according to a report in UK publication Infrastructure Investor,citing people familiar with the matter.
He succeeds Saed Arar, who has worked at Mubadala for almost 20 years and whose LinkedIn profile still lists him in the position.
But Nordell’s profile has been updated to show the new role. He has worked at Mubadala since 2015 and was head of real estate investment before the promotion.
The Infrastructure Investor report on June 1 says that Khadija Benzit, who was head of Europe’s real estate investment team, has been appointed to Nordell’s previous role.
Spokespersons for the wealth fund did not immediately respond to questions from Asia Asset Management.
Mubadala managed US$385 billion of assets as of end-December. According to the fund’s 2025 annual report, real estate and infrastructure account for 17% of its investment portfolio.
