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DUBAI: Mubadala Investment Company, the Abu Dhabi sovereign investor, reported a 36 percent rise in total comprehensive income to 72 billion dirhams ($19.59 billion) after a year of frenetic deal making.
It represents the largest total comprehensive income in Mubadala’s history, the company said in a statement. The performance was driven by significant growth in Mubadala’s public equities portfolio and funds, it said.
In 2020, Mubadala invested 108 billion dirhams ($29.39 billion) of capital, across telecom, pharma and tech.
“We navigated our portfolio through the dramatic macro-economic decline of early 2020, and decided to accelerate the pace of our capital deployment, ending the year with record profit and growth,” said CEO Khaldoon Al Mubarak. “In line with our long-term strategy, we increased our investments in sectors where we have high conviction, and with high performing fund managers. Technology and life sciences in particular have been essential to the world over the last year, and we see those sectors bringing greater opportunity for deeper investment.”
Mubadala struck long-term agreements with Silver Lake in technology; in life sciences with PCI Pharma in the US; and in consumer goods and telecommunications with the Reliance Group of India, it said.
The UAE and the US remained the largest geographic areas for its portfolio. It also invested through its sovereign investment partnerships in France, China and Russia in 2020.
At year-end, its assets under management across the group stood at 894 billion dirhams — up from 853 billion dirhams in 2019.