Abu Dhabi wealth fund Mubadala’s assets under management swells to Dh1.1 trillion

Abu Dhabi wealth fund Mubadala’s assets under management swells to Dh1.1 trillion

Despite persistent inflation and geopolitics, Mubadala kept the funding spigot turned on in full, with investments into private credit, AI and more. Image Credit: Bloomberg

Dubai: The assets under management held by the Abu Dhabi wealth fund Mubadala closed 2023 at Dh1.1 trillion, compared to Dh1.01 billion a year ago. During this period, the fund continued to expand its reach into sectors and across geographies, trying to secure pole position as new investment trends came to the fore.

All this in a year marked by 'persistent global inflation and sporadic disruptions to supply chains', said the UAE entity. “Mubadala had a strong year across the portfolio, making investments in areas essential to growth and innovation around the world," said Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO. 

During the year, it deployed Dh89 billion into multiple sectors 'shaping the future', including, of course, into AI, digital infrastructure, life sciences and clean energy. Mubadala also expanded its private credit business through some well-honed alliances.

"The company capitalized on market opportunities to execute on its monetization strategy, generating total proceeds of Dh99 billion for the year," said a statement. "Investments to accelerate the transformation of the UAE economy through AI-enabled innovation in sectors such as