Mubadala Courts Global Banks for Rio’s Base Exchange

Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, is actively engaging with global banks and market makers to establish a consortium of up to ten partners for the forthcoming Base Exchange in Rio de Janeiro.

These prospective partners are expected to provide essential liquidity to the new stock exchange. In return, they would acquire equity stakes, resulting in a slight reduction of Mubadala’s current 73% ownership. Despite this dilution, Mubadala would maintain its position as the controlling investor.

The Base Exchange aims to introduce competition to Brazil’s financial markets, which have long been dominated by São Paulo’s B3 exchange. The initiative seeks to enhance market efficiency and reduce transaction costs for investors.

Regulatory approval for the Base Exchange is anticipated by the end of the year, with operations expected to commence in early 2026. The exchange plans to initially facilitate trading in equities, real estate funds, and exchange-traded funds , utilizing its own clearing and settlement infrastructure.