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Abu Dhabi’s Mubadala reports $276bn assets

Mubadala CEO Khaldoon Khalifa Al Mubarak Reuters/Jason Lee
Mubadala CEO Khaldoon Khalifa Al Mubarak said the fund is staying the course with its investment strategy
  • Sovereign investor outperformed market benchmarks
  • Investments include renewable energy and digital infrastructure
  • Portfolio mix includes 15% in real estate and infrastructure

Abu Dhabi sovereign investor Mubadala on Friday reported its 2022 financial
results with more than AED1 trillion ($276 billion) in assets under management, and said it outperformed market benchmarks.

Mubadala Investment Company is the second-biggest state fund in the UAE capital, after Abu Dhabi Investment Authority.

In 2021 it reported AED1.045 trillion – around $280 billion – of assets under management.

The wealth fund also reported proceeds of AED106 billion ($29 billion), including from sales of stakes in sustainable polyolefin solutions firm Borealis and mining companies Minas de Aguas Teñidas and Glencore, “to support capital recycling into high-potential investment areas”.

It deployed AED107 billion in the year, including in life sciences, renewable energy and digital infrastructure.

“Despite global headwinds impacting financial markets and investor sentiment, we outperformed benchmarks, staying the course with our long-term strategy of investing in key markets and sectors,” said group CEO Khaldoon Khalifa Al Mubarak.

In 2021 Mubadala reported a record total comprehensive income of AED122 billion ($33 billion), but has said it no longer releases this measure.

Its portfolio mix remained broadly similar year on year, it said, with 36 percent direct and indirect private equity, 27 percent in public markets and 15 percent in real estate and infrastructure.

“We continue to focus on our capital deployments in line with our strategy, supported by prudent management of our finances,” CFO Carlos Obeid said.