UAE News: Abu Dhabi’s $232 Billion Mubadala Wants to Take Crack at Top 10 - Bloomberg
Abu Dhabi’s Mubadala Investment Co. is overhauling its structure and deploying capital to double in size to nearly half a trillion dollars in the next decade, a plan that will vault it into the top ranks of the world’s sovereign wealth funds.
With stakes in businesses from Reliance Industries Ltd.’s retail unit to private equity firm Silver Lake, Mubadala was among a few sovereign investors that last year seized on opportunities from a dislocation in markets caused by the coronavirus pandemic.
To help achieve its target, Mubadala will put in place several structural changes later this month, the result of a review that began in 2019, according to a background note it provided to Bloomberg. The focus will be on technology, infrastructure, life sciences and other “future-oriented asset classes,” alongside continued investment in renewables and other clean technologies.
“We did not pause during the Covid pandemic, but kept investing according to our strategy,” Mubadala said.
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