Mubadala, the Abu Dhabi government's investment vehicle, on Thursday reported an overall loss for 2011 of $1.14 billion as volatile global markets led to a sharp drop in the value of its financial investments and real estate portfolio.
The state-owned fund, which has stakes in General Electric and private equity firm Carlyle, made an overall
loss of 4.2 billion dirhams ($1.14 billon) in 2011, compared with a loss of 338 million dirhams in 2010, it said in a statement.
"While our financial investments' performance was impacted by the volatility in the global market place during 2011, we continue to maintain a long-term financial investment perspective," Khaldoon al Mubarak, chief executive and managing director said in the statement.
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