Mubadala passes $300bn AuM

The portfolio of Abu Dhabi-based sovereign wealth fund Mubadala has broken through the the threshold of US$300 billion in assets under management (AuM).

The fund also announced plans to double its portfolio’s size over the next ten years.

The announcements were made as part of Mubadala’s annual review which revealed that its five-year rate reached 10.3% in 2023, up from 8.5% in the previous year.

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Proceeds were down slightly over the same time period – $27 billion for 2023 versus $29 billion in 2022 – largely as a result of divestments of certain legacy assets “in line with its responsible investing agenda”.

Its portfolio profile included 38% in private equity, 25% in public markets, 16% in real estate, and 16% in alternatives.

“Our group-wide focus on responsible investing to deliver impact with key partners highlights the increasing role of sovereign funds as enablers of progress, not just asset allocators,” said managing director and group CEO Khaldoon Khalifa Al Mubarak.

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The chief executive also referred to the fund’s focus on new technology and artificial intelligence specifically.

“Our focus on industries of the future such as AI mirrors the proactive stance we took on renewable energy in 2006, which resulted in Masdar becoming one of the world’s fastest-growing clean energy companies and an enabler of the energy transition for over seventy countries,” said Al Mubarak.

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