Mubadala to maintain annual investment of $39 billion with Asia in focus

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According to The National, Abu Dhabi sovereign wealth fund Mubadala Investment Company plans to maintain an annual investment of $39 billion with a focus on Asia. Chief financial officer Carlos Obeid told the Milken Institute Asia Summit in Singapore that the fund invested about $39 billion last year, representing roughly 10 per cent of its portfolio, and aims to continue deploying that same amount every year through all cycles.

Mubadala has increased its exposure to Asia from about 10 per cent three years ago to about 13 per cent today. The fund plans to expand investments primarily across China, South Korea, India and Japan. Its target themes include energy transition, technology, global supply chain restructuring and the evolving consumer.

Mubadala invests on behalf of the Abu Dhabi government and reported a 17 per cent annual rise in assets to $385 billion last year. Recent investments include an agreement alongside Centurium Capital to back Chinese coffee chain Luckin Coffee in a deal worth about $1 billion, as well as holdings in India's Reliance Jio and through Investcorp, in which Mubadala holds a 20 per cent stake.