Mubadala Investment income record high

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Mubadala Investment income up 36% to record high of Dh72b in 2020

Mubadala Investment announced on Thursday that its income rose nearly 36 percent to a record high of Dh72 billion in 2020. A year also saw the firm investing a total of Dh108 billion of capital in various global entities, the most it has invested in a single year.

In a statement, Abu Dhabi’s state investment firm said the jump in annual income was driven by growth in its public equities portfolio and funds. At year-end, assets under management across the group stood at Dh894 billion compared to Dh853 billion in 2019.

Khaldoon Al Mubarak, managing director, and group CEO said the group worked closely with partners and portfolio companies to offer support to communities hit hard by Covid as the world confronted a tragic pandemic in 2020. “Across the group, our employees dedicated themselves to helping these communities during this crisis, and that important work will continue,” he said.

“We navigated our portfolio through the dramatic macro-economic decline of early 2020, and decided to accelerate the pace of our capital deployment, ending the year with record profit and growth,” added Al Mubarak.

He said in line with the group’s long-term strategy, Mubadala increased its investments in sectors where it had high conviction and with high-performing fund managers.

“Technology and life sciences, in particular, have been essential to the world over the last year, and we see those sectors bringing greater opportunity for deeper investment. We have worked to be well-positioned in these areas and in key geographies as the global economy continues to recover,” said Al Mubarak.

Capital investments included Dh4.3 billion in Reliance Industries-owned Jio, Dh2.7 billion in private equity investor Silver Lake, Dh2.2 billion in PCI Pharma, and Dh7.5 billion through partnerships with CVC, Citadel, iSquared Capital, and Apax Partners, the company said.