Mubadala Investment Company, Abu Dhabi’s strategic investment arm, posted a 9.5 per cent increase in its asset base last year, driven by investments in future-focused sectors including artificial intelligence, health care and advanced manufacturing.
Mubadala’s total assets under management in 2024 reached Dh1.2 trillion ($326 billion), with annualised returns of 10.1 per cent over five years, the company said on Thursday.
The creation of technology company MGX by the Artificial Intelligence and Advanced Technology Council, with G42 and Mubadala as founding partners, was the highlight of 2024, said Khaldoon Al Mubarak, managing director and group chief executive of Mubadala.
“Our portfolio has been constructed to navigate market cycles and scale future-focused sectors – from AI and clean energy to life sciences, semiconductors and advanced manufacturing – all aligned with our national priorities,” he said in a statement.
“A growing number of best-in-class investors continued to partner with Mubadala across key geographies and sectors.”
Capital deployed across sectors grew 33.7 per cent on an annual basis to Dh119 billion. Portfolio mix remained broadly consistent compared to last year, with 40 per cent in private equity, 23 per cent in public markets, and 17 per cent in infrastructure and real estate.
“We deployed significant capital across mature and emerging markets, targeting new global value chains and demographic-driven megatrends while reinforcing our presence in key investment destinations,” Mr Al Mubarak said.
Mubadala was the world’s largest sovereign wealth fund investor in 2024, ahead of Saudi Arabia’s Public Investment Fund, industry specialist Global SWF said in a January report.
Investing on behalf of the Abu Dhabi government, Mubadala is at the centre of the emirate’s efforts to diversify its revenue base and generate income from sources other than oil. Its interests span six continents in multiple sectors and asset classes.
Last month, global investment manager Fortress Investment Group and Mubadala entered into a partnership to invest $1 billion from Mubadala in a range of Fortress’s existing private credit, asset-based lending and real estate strategies alongside Fortress’s existing pools of capital.
Also last month, TWG Global, a holding company led by US billionaires Mark Walter and Thomas Tull, said it will acquire a minority stake in Mubadala Capital, the Abu Dhabi investment company’s asset management subsidiary. As a part of the alliance, TWG is committing $2.5 billion.
Mubadala Capital now manages Dh110.2 billion, two thirds of that on behalf of global investors, and established a Dh3.6 billion partnership with Silver Rock Financial in December.
Last year, Mubadala Capital closed private equity fund IV with total commitments of Dh11.4 billion, surpassing its original target by more than Dh3.6 billion, it said.
Mubadala’s private credit portfolio is Dh73.5 billion, supported by partnerships with Apollo, Ares, Carlyle, Goldman Sachs and KKR.
In the technology sector, MGX, in September last year, co-led a Dh110.2 billion AI infrastructure partnership with Microsoft, BlackRock, GIP, Nvidia and xAI, and invested in companies such as OpenAI, Anthropic and Databricks.
Mubadala also supported the growth of the life sciences industry in the UAE through acquisitions to support national drug security and address the global need for essential medicines, it said on Thursday.
“We continued to expand in areas where Mubadala has long invested with conviction, ranging from clean energy, health care and life sciences to advanced manufacturing and semiconductors,” Mr Al Mubarak said in Mubadala’s annual review.
Institutions such as Masdar, M42, Emirates Global Aluminium and GlobalFoundries represent the company's long-term approach to value creation, he added.
A conservative “gearing ratio of 7.8 per cent” positions Mubadala well for future investments, said chief financial officer Carlos Obeid.
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Other must-tries
Tomato and walnut salad
A lesson in simple, seasonal eating. Wedges of tomato, chunks of cucumber, thinly sliced red onion, coriander or parsley leaves, and perhaps some fresh dill are drizzled with a crushed walnut and garlic dressing. Do consider yourself warned: if you eat this salad in Georgia during the summer months, the tomatoes will be so ripe and flavourful that every tomato you eat from that day forth will taste lacklustre in comparison.
Badrijani nigvzit
A delicious vegetarian snack or starter. It consists of thinly sliced, fried then cooled aubergine smothered with a thick and creamy walnut sauce and folded or rolled. Take note, even though it seems like you should be able to pick these morsels up with your hands, they’re not as durable as they look. A knife and fork is the way to go.
Pkhali
This healthy little dish (a nice antidote to the khachapuri) is usually made with steamed then chopped cabbage, spinach, beetroot or green beans, combined with walnuts, garlic and herbs to make a vegetable pâté or paste. The mix is then often formed into rounds, chilled in the fridge and topped with pomegranate seeds before being served.
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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UAE currency: the story behind the money in your pockets
Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
PSL FINAL
Multan Sultans v Peshawar Zalmi
8pm, Thursday
Zayed Cricket Stadium, Abu Dhabi
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Zayed Sustainability Prize
MATCH INFO
Barcelona 4 (Suarez 27', Vidal 32', Dembele 35', Messi 78')
Sevilla 0
Red cards: Ronald Araujo, Ousmane Dembele (Barcelona)
Read more about the coronavirus
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DIVINE%20INTERVENTOIN
%3Cp%3EStarring%3A%20Elia%20Suleiman%2C%20Manal%20Khader%2C%20Amer%20Daher%3C%2Fp%3E%0A%3Cp%3EDirector%3A%20Elia%20Suleiman%3C%2Fp%3E%0A%3Cp%3ERating%3A%204.5%2F5%3C%2Fp%3E%0A
Killing of Qassem Suleimani
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
RESULTS
Bantamweight title:
Vinicius de Oliveira (BRA) bt Xavier Alaoui (MAR)
(KO round 2)
Catchweight 68kg:
Sean Soriano (USA) bt Noad Lahat (ISR)
(TKO round 1)
Middleweight:
Denis Tiuliulin (RUS) bt Juscelino Ferreira (BRA)
(TKO round 1)
Lightweight:
Anas Siraj Mounir (MAR) bt Joachim Tollefsen (DEN)
(Unanimous decision)
Catchweight 68kg:
Austin Arnett (USA) bt Daniel Vega (MEX)
(TKO round 3)
Lightweight:
Carrington Banks (USA) bt Marcio Andrade (BRA)
(Unanimous decision)
Catchweight 58kg:
Corinne Laframboise (CAN) bt Malin Hermansson (SWE)
(Submission round 2)
Bantamweight:
Jalal Al Daaja (CAN) bt Juares Dea (CMR)
(Split decision)
Middleweight:
Mohamad Osseili (LEB) bt Ivan Slynko (UKR)
(TKO round 1)
Featherweight:
Tarun Grigoryan (ARM) bt Islam Makhamadjanov (UZB)
(Unanimous decision)
Catchweight 54kg:
Mariagiovanna Vai (ITA) bt Daniella Shutov (ISR)
(Submission round 1)
Middleweight:
Joan Arastey (ESP) bt Omran Chaaban (LEB)
(Unanimous decision)
Welterweight:
Bruno Carvalho (POR) bt Souhil Tahiri (ALG)
(TKO)
Evacuations to France hit by controversy
- Over 500 Gazans have been evacuated to France since November 2023
- Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
- The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
- Artists and researchers fall under a programme called Pause that began in 2017
- It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
- Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
- Unlike students, they are allowed to bring their families to France
More from Neighbourhood Watch:
Killing of Qassem Suleimani
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
If you go
The flights
Etihad (etihad.com) flies from Abu Dhabi to Luang Prabang via Bangkok, with a return flight from Chiang Rai via Bangkok for about Dh3,000, including taxes. Emirates and Thai Airways cover the same route, also via Bangkok in both directions, from about Dh2,700.
The cruise
The Gypsy by Mekong Kingdoms has two cruising options: a three-night, four-day trip upstream cruise or a two-night, three-day downstream journey, from US$5,940 (Dh21,814), including meals, selected drinks, excursions and transfers.
The hotels
Accommodation is available in Luang Prabang at the Avani, from $290 (Dh1,065) per night, and at Anantara Golden Triangle Elephant Camp and Resort from $1,080 (Dh3,967) per night, including meals, an activity and transfers.
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
More coverage from the Future Forum
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
UAE currency: the story behind the money in your pockets
