UPDATE 1-Abu Dhabi's Mubadala posts record annual income and investment | Reuters
Abu Dhabi state investor Mubadala’s total income rose nearly 36% to a record high last year, driven by growth in its public equities portfolio and funds, while it accelerated investment during the COVID-19 pandemic.
“We navigated our portfolio through the dramatic macroeconomic decline of early 2020 and decided to accelerate the pace of our capital deployment, ending the year with record profit and growth,” CEO Khaldoon al-Mubarak said.
Mubadala Investment Co invested 108 billion dirhams ($29 billion) of capital in 2020, the most ever in a single year.
Investments included 4.3 billion dirhams in Reliance Industries-owned Jio, 2.7 billion dirhams in private equity investor Silver Lake and 7.5 billion dirhams through partnerships with CVC, Citadel, iSquared Capital and Apax Partners.
Mubarak doubled down on growth sectors such as technology, life sciences and self-driving technology, while asset sales hit 104 billion dirhams as it exited from some of its mature assets.
The monetisations included a deal worth 16.7 billion dirhams through the sale of its 39% stake in plastics maker Borealis to OMV .
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