Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, has reported record assets under management of USD 182 billion for the full year 2025, up 14 percent from USD 159 billion in 2024. The figures, published in Mubadala’s Annual Review, mark the fund’s sixth consecutive year of double-digit growth and confirm its position as one of the world’s most active sovereign investors.
Where Mubadala Is Investing in 2026
The Abu Dhabi fund’s 2025 portfolio additions span four primary themes: artificial intelligence infrastructure, healthcare and life sciences, clean energy transitions, and advanced manufacturing. In the technology sector alone, Mubadala committed over USD 12 billion during 2025 — including a strategic stake in a major US semiconductor design firm and co-investment rights in several Asian AI data centre projects alongside Japan’s SoftBank Vision Fund 3.
In the GCC, Mubadala’s domestic investments focused heavily on the UAE’s industrial diversification agenda. The fund anchored a AED 4.5 billion advanced manufacturing park in Abu Dhabi’s Khalifa Industrial Zone (KIZAD), which will host precision engineering, aerospace components, and pharmaceutical manufacturing tenants. Full operations are expected by Q2 2027.
Returns and Financial Performance
Mubadala’s five-year annualised net return stood at 9.2 percent as of December 2025, above the sovereign wealth fund industry median of approximately 7.5 percent based on International Forum of Sovereign Wealth Funds (IFSWF) benchmarks. Private equity and infrastructure together accounted for 58 percent of the portfolio by value, with publicly traded equities representing 22 percent and credit instruments the remaining 20 percent.
The fund’s renewable energy division, Masdar — jointly owned by Mubadala, ADNOC, and ADQ — contributed significantly to the 2025 performance, with Masdar’s global clean energy portfolio surpassing 42 gigawatts of installed and contracted capacity across 40 countries.
Strategic Partnerships and Co-Investments
Mubadala operates through a network of long-term strategic partnerships with global asset managers including BlackRock, Carlyle Group, KKR, and Apollo Global Management. In 2025, the fund launched its first joint Islamic finance vehicle, the Mubadala-Amundi Sukuk Growth Fund, which raised USD 3.8 billion at first close from institutional investors across the GCC, Malaysia, and Luxembourg.
For regional businesses, Mubadala’s growing network of GCC co-investment agreements — covering Saudi Arabia’s Public Investment Fund (PIF) and Qatar Investment Authority (QIA) — signals a new era of sovereign capital coordination across the Gulf. Joint mandates now cover logistics, digital infrastructure, and green hydrogen, reducing duplicated investment and increasing the scale of regionally aligned projects.
What This Means for the UAE Business Environment
Mubadala’s scale and performance reinforce Abu Dhabi’s position as the Middle East’s pre-eminent capital allocator. For multinationals, private equity firms, and growth-stage companies seeking GCC expansion capital, Mubadala’s co-investment platforms represent one of the most accessible channels to sovereign backing — provided companies align with its four strategic themes: technology, healthcare, clean energy, and manufacturing.
The fund’s venture arm, Mubadala Capital Ventures, continues to invest in Series B to growth-stage technology companies in the UAE, Saudi Arabia, and Egypt, with a dedicated MENA fund of USD 500 million for 2026 deployments.
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