Mubadala Investment Co, Abu Dhabi’s sovereign wealth fund, is in discussions with global banks and market makers to form a consortium of up to ten partners to provide liquidity for Rio de Janeiro’s forthcoming stock exchange, Base Exchange. These partners would receive equity stakes, sources familiar with the matter told Reuters. This would slightly reduce Mubadala’s current 73% holding while maintaining its controlling interest.
The consortium aims to comprise six to ten members, with independent advisory firm Olimpia Partners assisting in structuring the deal.
Base Exchange plans to challenge São Paulo-based B3’s dominance, targeting regulatory approval by year-end and a launch in early 2026.
Rio Mayor Eduardo Paes supports the initiative, having enacted a law reducing the service tax on stock exchange activities from 5% to 2%.
