Today's Edition
ABU DHABI (ALETIHAD)
Mubadala’s assets under management (AUM) rose to Dh1.2 trillion ($330 billion) in 2024, marking a 9.1% increase from Dh1.1 trillion in 2023, as the Abu Dhabi-based sovereign investor continued to build on two decades of disciplined delivery and strategic clarity.
The company’s 2024 performance report, published on its website and shared via social channels, reflected robust financial and operational outcomes.
Mubadala generated Dh109 billion ($30 billion) in proceeds, up 10% year-on-year, fuelled by strategic monetisations and capital recycling. Investment deployments reached Dh119 billion ($32.5 billion), a 33.7% annual rise, underscoring the company’s strong momentum across global markets. Over a five-year horizon, Mubadala delivered a top-quartile return of 10.1%.
In a statement, Khaldoon Khalifa Al Mubarak, Managing Director and Group Chief Executive Officer, said, "2024 was a year of momentum as we built on two decades of disciplined delivery. We further honed our strategic focus as a globally relevant, innovative institution at the heart of the UAE’s economic transformation. Today, Mubadala operates across industries that define and drive national and global progress."
"In 2024, we deepened cross-portfolio mobility, expanded Emiratisation, strengthened talent partnerships across Abu Dhabi, and continued nurturing future leaders. Our organisational AI strategy is already sharpening execution and insight across the Group," he added.
Mubadala made major investments in sectors such as clean energy, healthcare, semiconductors, and advanced manufacturing. Notable 2024 transactions included further commitments to Masdar, the monetisation of GlobalFoundries shares, and the acquisition of a significant stake in US-based healthcare platform Zelis.
A defining milestone was the launch of MGX, Mubadala’s AI investment platform, backed by G42 and the Advanced Technology Council. MGX co-led the $30 billion Global AI Infrastructure Partnership, and invested in leading firms such as OpenAI, Anthropic, and Databricks.
Carlos Obeid, Chief Financial Officer, noted, "In 2024, global markets continued to experience volatility, shaped by persistent geopolitical tensions, evolving monetary policies, and uncertainty around inflation and capital flows. Despite these headwinds, Mubadala once again delivered strong performance across its portfolio, reinforcing the strength and resilience of its long-term investment strategy."
"Our globally diversified portfolio, disciplined capital allocation, and proactive approach to risk management have enabled us to navigate sustained volatility over recent years, and we remain confident in our ability to do so going forward," Obeid added.
Mubadala Capital, a wholly owned subsidiary, grew its assets under management to $30 billion, with two-thirds managed on behalf of global investors, while its private credit portfolio expanded to $20 billion through partnerships with Apollo, Ares, Carlyle, Goldman Sachs, and KKR. ADIC, Mubadala’s indirect investment arm, contributed to diversification through funds and co-investments.
During the year, Mubadala raised Dh30.5 billion in debt, including issuing the world’s first AA-rated global sukuk. The gearing ratio fell to 7.8%, reflecting disciplined financial management and cost-efficient capital access.
