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Bahrain Mumtalakat Holding Company (Mumtalakat) was set up in Bahrain in 2006 with a capital of BHD2 billion, of which BHD1.3 billion would be raised through a public issue. Mumtalakat was set up as an investment vehicle of the Government of Bahrain and is led by the Minister of Finance Sheikh Ahmad Bin Mohammed Al Khalifa.
In January 2007, Mumtalakat took a step outside the country when it acquired a 30% stake in British McLaren, owner of the Formula 1 racing team from the Saudi investor Mansour Akram Oger and the British investor Ron Dennis.
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