Mubadala to maintain annual investment of $39bn with Asia in focus
Abu Dhabi sovereign wealth fund Mubadala Investment Company plans to maintain annual investment of $39 billion with a focus on Asia, its chief financial officer said on Wednesday. “Last year, we invested about $39 billion, which is roughly 10 per cent of our portfolio, and our aim is to continue doing that through all cycles. Every year, we want to deploy that same amount,” Carlos Obeid told the…
Mubadala Investment Company, the Abu Dhabi sovereign wealth fund, intends to keep its annual investment of $39 billion with a focus on Asia, according to chief financial officer Carlos Obeid. Speaking at the Milken Institute Asia Summit in Singapore, Obeid stated that the fund plans to maintain this investment level through all economic cycles.
Asia is considered crucial for Mubadala's global investment strategy, with China, South Korea, India, and Japan identified as the primary countries for increased investment. Over the past few years, the fund has been making concerted efforts to boost its exposure in Asia. Currently, Asia comprises 13% of Mubadala's portfolio, up from 10% three years ago.
The company has made investments in various sectors across Asia, such as energy transition, technology, supply chain reconstruction, and consumer markets. Mubadala's strategy aligns with the objectives of the Abu Dhabi government, aiming to generate returns while integrating the economy into the global economy. The sovereign investor focuses on sectors like renewables, mobility, advanced technology, AI, and life science, with a global portfolio spanning six continents.
Last year, Mubadala's assets grew by 17%, reaching $385 billion, driven by growth sectors in the UAE and abroad. Recently, Mubadala made a significant minority investment in Chinese coffee chain Luckin Coffee alongside its controlling shareholder Centurium Capital. The company also has investments in India, including Reliance Industries' telecom arm Reliance Jio.
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