A consortium led by Abu Dhabi wealth firm Mubadala has purchased a 46.9 percent stake in Hugel, a Korean maker of cosmeceutical goods.

The investment adds to the company's increasing portfolio of worldwide enterprises, which includes India's Reliance Retail Ventures Ltd., Truck Hero in the United States, and IVC Evidensia, Europe's biggest veterinary chain.

The consortium also includes CBC, Asia's largest healthcare investment business located in Singapore, as well as GS Holdings Corp. and IMM Investment Corp. from South Korea.

The agreement reflects CBC's expanding interest in international ventures, with a focus on the United States, Europe, and China.

“With strong backing from our global investors, CBC will continue to grow its global healthcare portfolio,” CBC Managing Director Michael Keyoung said in a statement.

Mubadala, for its part, has backed Abu Dhabi's attempts to seek non-oil projects and modernize the emirate's economy, in keeping with the UAE's national aim of reducing reliance on oil.

Hugel was founded in 2001 and claims to be the market leader in Korea for botulinum toxin and hyaluronic acid fillers.