Mubadala

What Mubadala does

Mubadala Investment Company is a sovereign investor wholly owned by the Government of Abu Dhabi, managing approximately $385 billion in assets under management as of 2025. The firm invests across more than 50 markets globally through four core platforms: UAE Investments, Private Equity, and Credit & Special Situations and Real Assets, supported by Mubadala Capital, its dedicated asset management arm with approximately $30 billion in AUM (roughly two-thirds from third-party limited partners). It is rated AA/Aa2 and has raised approximately $30.5 billion in capital markets since 2021, deploying AED 143 billion (~$39 billion) in 2025 alone, with rolling 5-year and 10-year annualized returns of 10.7% and 8.5% respectively.

The portfolio spans semiconductors and AI (G42, MGX, Core42), energy transition (Masdar, 32.6 GW operational portfolio), aerospace (Strata), healthcare and life sciences (M42, Mubadala Bio, Abu Dhabi Stem Cells), real assets, private credit, and hedge funds (Fortress, acquired 90.01% in 2024 for ~$2 billion). Mubadala's investment model combines direct principal deals, fund-of-funds and co-investments with leading GPs, and third-party asset management through Mubadala Capital, with notable recent co-investments including a $1.9 billion participation in the $12.3 billion Intertek take-private alongside EQT and ADIA (June 2026) and a $325 million commitment to Hornsea 3 offshore wind (May 2026).

The firm's business model is dual-track: a sovereign balance sheet pursuing long-duration national-champion strategies (UAE diversification, energy transition, frontier tech) and a fee-generating third-party asset management franchise. Strategic positioning has been reshaped by the 2024 launch of MGX, a dedicated AI investment vehicle co-founded with G42, and by the April 2026 L'imad plan to consolidate Mubadala with other Abu Dhabi state vehicles into a single mega-fund, both of which materially expand the firm's investable footprint and strategic optionality.

Name

Mubadala

Legal name

Mubadala Investment Company

Website

https://mubadala.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Abu Dhabi sovereign investor Mubadala manages $385B AUM across four platforms—UAE Investments, Private Equity, Credit & Special Situations, and Real Assets—with a $30B asset management arm (Mubadala Capital) serving third-party limited partners, deploying capital across 50+ markets.

Ownership category

akta.pro rank

Product category

Sovereign Wealth Fund / Investment Management

NAICS

Miscellaneous Financial Investment Activities (523999), Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259), Other Financial Vehicles (525990)

SIC

Investors, Nec (6799), Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Private Credit / Direct Lending (FSAAAHAG)

akta.pro secondary industries

Infrastructure & Project Finance Private Debt (FSANADAH), Private Credit — Structured Credit (CLOs, ABS, Private Securitizations) (FSAHAJAH), Private Credit — Distressed & Opportunistic Credit (FSAHAJAG), Managed Account / SMA Multi-Manager Platforms (FSANAGAL)

Keywords

• Sovereign wealth fund
• Private equity investing
• Alternative asset management
• Infrastructure investments
• Direct investment platform

Headquarters

HQ city

Abu Dhabi

HQ country

United Arab Emirates

HQ region

Middle East

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Investment Returns on Direct Portfolio: Primary revenue source is financial returns generated from a globally diversified portfolio spanning private equity (40%), public markets (23%), infrastructure and real estate (17%), credit and alternatives across more than 50 countries; the 2024 portfolio mix was reported at 40% private equity, 23% public markets, 17% infrastructure and real estate, with 5-year annualized returns of 10.1% and 10-year IRR of 8.7%. Since 2021 Mubadala has not disclosed annual revenue or net income but reports rolling 5-year and 10-year IRR.
2. Third-Party Asset Management Fees: Mubadala Capital, the alternative asset management subsidiary, manages approximately US$30 billion in aggregate between its own balance sheet investments and third-party capital vehicles on behalf of institutional investors across four businesses: Private Equity, Brazil, Venture Capital, and Solutions; two-thirds of Mubadala Capital's AUM is managed on behalf of global investors.
3. Debt Capital Markets Funding: Mubadala raises capital through a GMTN bond programme (MDGH GMTN (RSC) Ltd), a Euro Commercial Paper programme, a Sukuk programme, and revolving credit facilities (currently US$3 billion in total). In 2024, Mubadala raised AED 30.5 billion via capital markets instruments, including the world's first AA-rated sovereign Sukuk, the tightest-spread EM bond, and a dirham-denominated global Sukuk.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Mubadala Investment Company is a sovereign investor managing a global, diversified portfolio of assets on behalf of the Government of Abu Dhabi. It deploys capital across four business platforms — UAE Investments, Private Equity, Credit and Special Situations, and Real Assets — making direct investments, co-investments with tier-one GPs, and operating wholly-owned portfolio companies across more than 50 countries. Its wholly-owned alternative asset management arm, Mubadala Capital, raises third-party institutional capital across Private Equity, Brazil, Venture Capital and Solutions strategies.

Product overview

Mubadala Investment Company is a sovereign wealth fund rather than a packaged software vendor. Its "products" are organized as four global business platforms — UAE Investments, Private Equity, Credit and Special Situations, and Real Assets — that together house subsidiary operating companies and direct portfolio brands such as Mubadala Energy, Mubadala Bio, G42, Space42, Hub71, GlobalFoundries, Power Factors, Sanad, Strata, Tabreed, Emirates Global Aluminium, Cleveland Clinic Abu Dhabi, Hafeet Rail, Masdar City and the Al Maryah Island real-estate cluster. The Credit and Special Situations platform further contains Mubadala Capital, the alternative asset management arm that runs private credit, GP-stake and venture strategies including majority-owned Fortress Investment Group. Alongside the investment platforms, Mubadala operates regulated capital-markets funding programs for Mamoura Diversified Global Holding PJSC — the GMTN Bond Programme, Euro Commercial Paper Programme, Sukuk Programme, Revolving Credit Facility, and the Green Finance Framework — and co-founded the MGX AI investment vehicle with G42 in 2024. The internal technology stack for the Mubadala Group is increasingly built on a sovereign AI infrastructure delivered by portfolio company Core42's Compass API and Solutions+'s WEAVE AI platform.

Differentiator

Problem solved

Functional benefit

Brands

• Mubadala Capital: Alternative asset management subsidiary of Mubadala Investment Company, managing c. $30 billion across Private Equity, Brazil, Venture Capital, and Solutions businesses, including 90.01% ownership of Fortress Investment Group.
• Mubadala Bio
• Mubadala Energy
• Mubadala Healthcare
• Mamoura Diversified Global Holding
• Sanad
• Abu Dhabi Investment Council (ADIC)
• MDGH Sukuk Limited

Products and services

• UAE Investments Platform Mubadala's national investment vehicle accelerating the UAE's economic transformation by building national champions across energy, metals, aerospace, technology, healthcare, real estate and infrastructure. Includes UAE Clusters, UAE Diversified Assets, UAE Industries, UAE Real Estate, Growth & Value Creation and Construction Management Services units.
• Private Equity Platform Executes global direct investments focused on buyouts and late-stage growth equity across technology, healthcare, consumer, financial services, energy & sustainability and industrials & business services, with primary geographic focus on North America, Europe and Asia.
• Credit and Special Situations Platform Integrated platform investing across private debt, asset-based lending, special situations, GP stakes, secondaries and opportunistic capital-structure solutions, with country-specific programs and housing Mubadala Capital's four businesses (Private Equity, Brazil, Venture Capital, Solutions).
• Real Assets Platform Deploys capital in critical real estate and infrastructure assets worldwide, partnering with best-in-class investors, industry leaders and governments to deliver steady cash flows and risk-adjusted returns supporting long-term economic resilience.
• Mubadala Capital Wholly-owned alternative asset management subsidiary of Mubadala Investment Company managing approximately US$30 billion in aggregate between balance sheet investments and third-party capital vehicles across Private Equity, Brazil, Venture Capital and Solutions businesses. Includes 90.01% ownership of Fortress Investment Group.
• MDGH GMTN Bond Programme Global Medium Term Note program (MDGH GMTN (RSC) Ltd, formerly MDC - GMTN B.V.), established in 2009 and irrevocably guaranteed by Mamoura Diversified Global Holding PJSC, to diversify the Group's funding sources.
• MDGH Euro Commercial Paper Programme
• MDGH Sukuk Programme
• Mubadala Revolving Credit Facility
• MDGH Green Finance Framework

Quantifiable outcome

• AUM grew 17% to US$385 billion in 2025 with 10.7% five-year and 10.3% ten-year annualized returns.
• +5 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability2 records

Feature3 records

Partnerships

28 partnerships are on record, tiered flagship and core.

• EQTflagshipStrategic or Co-development Partner · 18 June 2026Mubadala and ADIA committed a combined US$1.9 billion as co-investors alongside Swedish private equity firm EQT in its £9.3 billion (US$12.3 billion) recommended cash acquisition of UK-listed testing, inspection and certification group Intertek Group Plc; the deal will result in Intertek delisting from the London Stock Exchange.
• EquitixflagshipStrategic or Co-development Partner · 17 June 2026Mubadala acquired a US$200 million stake in the Greenlink Interconnector JV from Equitix alongside Baltic Cable, taking operational control of a 504 MW subsea HVDC cable linking Ireland and Great Britain (190 km, capacity for c. 380,000 homes); this is Mubadala's third significant investment in the UK power sector after the Hornsea 3 wind farm and Zenobe.
• Etihad Rail and Oman RailflagshipStrategic or Co-development Partner · 16 June 2026Hafeet Rail, jointly developed by Etihad Rail, Oman Rail and Mubadala Investment Company, is the UAE-Oman cross-border rail connection — a 238 km project that is 40% complete and will link Abu Dhabi with Sohar through Al Ain and Al Buraimi for freight and passenger services.
• Kimmeridge Energy ManagementcoreStrategic or Co-development Partner · 15 May 2026Mubadala partnered with Kimmeridge Energy Management, alongside EOC Partners, BlackRock and an Ares-managed fund, to finance a US$13 billion LNG export terminal at Commonwealth LNG in Louisiana, proceeding amid geopolitical tensions affecting Iranian gas supplies.
• Apollo FundsflagshipStrategic or Co-development Partner · 12 May 2026Mubadala invested US$325 million in Ørsted's Hornsea 3 offshore wind farm via a consortium led by Apollo Funds (alongside USS and La Caisse); Apollo holds 50% of the JV, Ørsted retains the remaining 50% and operational control, and the 2.9 GW project is expected to be the world's largest single offshore wind farm once completed.
• ØrstedflagshipStrategic or Co-development Partner · 12 May 2026Mubadala is investing US$325 million in Ørsted's Hornsea 3 offshore wind farm off the Norfolk coast (2.9 GW capacity, 3.3 million UK homes); Mubadala joins Apollo, USS and La Caisse as financial partners while Ørsted retains 50% and continues to lead development, construction and operations.
• Core42 and Solutions+coreTechnology or Integration · 10 May 2026Core42 (a G42 company) and Solutions+ formed a strategic partnership to deliver sovereign AI infrastructure for Mubadala Group and Abu Dhabi government entities, with Core42 providing foundational infrastructure (Compass API) and Solutions+ acting as lead implementation partner for Oracle Fusion/OCI services and the Weave AI platform.
• Vista Equity PartnersflagshipStrategic or Co-development Partner · 6 May 2026Mubadala made a minority investment in Power Factors, a renewable energy management software provider, joining existing investor Vista Equity Partners to advance Power Factors' AI-driven Unity REMI platform and expand monitoring of c. 310 GW of renewable capacity across 600+ customers and 70+ countries.
• WHOOPcoreStrategic or Co-development Partner · 6 May 2026Mubadala partnered with WHOOP following the US$575 million Series G funding round at a US$10.1 billion valuation, to strengthen preventative health and research capabilities in the UAE, including a research lab in Doha and expansion across GCC, Europe, Latin America and Asia.
• StonepeakflagshipStrategic or Co-development Partner · 5 May 2026Mubadala and Stonepeak co-invested US$300 million to create the world's largest container leasing platform by combining Textainer (acquired by Stonepeak in 2024) with Seaco (acquired by Textainer in 2025); the combined platform operates a fleet of approximately eight million cost equivalent units serving international trade routes.
• Aldar Properties PJSCflagshipStrategic or Co-development Partner · 21 April 2026Aldar and Mubadala jointly acquired "The Link" at Masdar City for AED 654 million through their 2024 joint venture, comprising c. 32,000 sqm across five buildings fully leased to Masdar and the Mohamed bin Zayed University of Artificial Intelligence; they also operate a combined retail JV (Yas Mall, Galleria Luxury Collection) with c. AED 10 billion gross asset value.
• Bain CapitalflagshipStrategic or Co-development Partner · 17 February 2025Mubadala agreed to acquire a minority stake in Apleona, a leading European provider of integrated facility management based near Frankfurt, alongside a consortium led by Bain Capital's Private Equity team in Europe; the deal supports Apleona's expansion and digital transformation of HVAC and building services.
• CBC GroupflagshipStrategic or Co-development Partner · 26 August 2024Mubadala Investment Company, together with CBC Group, acquired 100% ownership of UCB Pharma's mature business in China, including its neurology and allergy portfolios and the Zhuhai manufacturing site. The transaction was expected to close in Q4 2024 and aligns with Mubadala's strategy to expand healthcare investments in Asia; the combined platform was carved out as NeuroGen.
• Harvest Partners, LPcoreStrategic or Co-development Partner · 16 January 2023Mubadala invested in US-based dental services organization Dental Care Alliance (DCA) alongside funds managed by Harvest Partners, LP; Mubadala and Harvest Partners jointly control DCA following a recapitalization completed in December 2022.
• Bain Capital (Service Logic)coreStrategic or Co-development PartnerCo-investment by Mubadala with Bain Capital in the c. US$3.1 billion acquisition of Service Logic, a North American commercial HVAC and building automation services leader, from Leonard Green & Partners; Service Logic is part of Mubadala's Private Equity industrials & business services portfolio.
• BlackRockflagshipStrategic or Co-development PartnerBlackRock and Mubadala Capital maintain an ongoing strategic partnership that includes commitments to a number of Mubadala Capital's private equity funds; BlackRock also co-leads MGX's US$30 billion AI Infrastructure Partnership with Microsoft, GIP, NVIDIA, xAI and Mubadala.
• Microsoft, NVIDIA, GIP, xAI, MGXflagshipStrategic or Co-development PartnerMGX — co-founded by Mubadala and G42 — co-leads the US$30 billion AI Infrastructure Partnership alongside Microsoft, BlackRock, GIP, NVIDIA and xAI, investing in OpenAI, Anthropic, and Databricks; partners also collaborate with France's Bpifrance and Mistral AI on Europe's largest AI campus.
• G42flagshipStrategic or Co-development PartnerG42 is Mubadala's flagship UAE technology holding group and a global leader in AI; in 2024 Mubadala co-founded MGX with G42 as the dedicated AI investment vehicle, and Mubadala-backed Core42 (a G42 company) now serves as the foundational sovereign AI infrastructure provider across the Mubadala Group.
• APG and CBCcoreStrategic or Co-development PartnerMubadala partnered with CBC Group and APG to establish the Chinese Life Sciences Platform, a programmatic joint venture targeting acquisition and development of life sciences assets in major Chinese life sciences clusters.
• ESR and KKRcoreStrategic or Co-development PartnerMubadala established a programmatic joint venture with ESR and KKR to acquire and develop logistics facilities across Australia as part of its Real Assets platform.
• ArdiancoreStrategic or Co-development PartnerMubadala partnered with Ardian to invest in a portfolio of prime luxury retail properties in central Paris as part of Mubadala's European Real Assets strategy.
• Healthcare ActivoscoreStrategic or Co-development PartnerMubadala's Real Estate team partnered with Healthcare Activos to establish a leading European Healthcare Platform for acquiring and developing mid- and long-term stay healthcare facilities across key European markets.
• TAQA, ADNOC (Masdar)flagshipStrategic or Co-development PartnerIn December 2022, TAQA, Mubadala and ADNOC completed the Masdar transaction, becoming shareholders in Abu Dhabi Future Energy Company (Masdar) — Abu Dhabi's flagship clean energy champion, whose portfolio doubled from 16.5 GW to 32.6 GW in 2024 and which targets 100 GW of renewable capacity by 2030.
• Total and Occidental Petroleum (Dolphin Energy)flagshipStrategic or Co-development PartnerDolphin Energy is a joint venture between Mubadala, Total and Occidental Petroleum delivering 2 billion standard cubic feet of natural gas per day from Qatar's North Field to Abu Dhabi and Oman; the project has produced 8.5 trillion scf since operations began in 2007.
• Apollo Global ManagementflagshipStrategic or Co-development PartnerIn 2022 Mubadala and Apollo expanded their global partnership, which includes a number of strategic initiatives across Apollo's integrated platform covering private equity, credit, and infrastructure investments.
• Silver LakecoreStrategic or Co-development PartnerSilver Lake and Mubadala partnered to establish a unique long-term investment strategy, including a US$1 billion (AED 3.6 billion) partnership with Silver Rock Financial announced in 2024.
• China Development Bank Capital and China State Administration of Foreign ExchangecoreStrategic or Co-development PartnerMubadala partnered with China Development Bank Capital and China's State Administration of Foreign Exchange to establish the UAE-China Joint Investment Fund.
• MGXflagshipStrategic or Co-development PartnerMGX, Abu Dhabi's dedicated AI investment firm co-founded by Mubadala and G42 and chaired by Sheikh Tahnoon bin Zayed Al Nahyan, has raised approximately US$50 billion from regional sovereigns and global investors and has invested in OpenAI, xAI, and Anthropic; Mubadala is a key backer of MGX's expanding AI infrastructure strategy.

Scale indicators12 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Abu Dhabi Investment Authority (ADIA): ADIA is Abu Dhabi's largest sovereign wealth fund and Mubadala's domestic sister fund, both wholly owned by the Government of Abu Dhabi and managing global portfolios across private equity, infrastructure and credit. The two recently co-invested alongside EQT in the US$12.3 billion take-private of Intertek.
• ADQ (Abu Dhabi Developmental Holding Company / L'imad): ADQ is another Abu Dhabi sovereign vehicle focused on domestic and strategic holdings, now absorbed into the newly created L'imad Holding (c. US$260 billion). It is comparable to Mubadala as a domestic sovereign investor building national champions and pursuing global infrastructure and technology investments.
• Public Investment Fund (PIF) — Saudi Arabia: PIF is Saudi Arabia's sovereign wealth fund, with a comparable mandate of driving national economic transformation (Vision 2030), building domestic champions (Lucid, NEOM, Saudi Aramco), and deploying capital globally via Private Equity, Real Estate and Credit platforms alongside tier-one GPs.
• GIC (Singapore): GIC is Singapore's sovereign wealth fund managing well over US$700 billion across public equities, fixed income, private equity and real estate globally. It is directly comparable to Mubadala as a long-duration, globally diversified sovereign investor co-investing with major private equity GPs.
• Temasek Holdings: Temasek is a Singapore state-owned investor with a portfolio concentrated in equities and direct holdings across financial services, technology, transportation and life sciences. It is comparable to Mubadala in mandate, scale and approach to building regional champions and global partnerships.
• Qatar Investment Authority (QIA): QIA is Qatar's sovereign wealth fund with a comparable Gulf-region mandate to invest hydrocarbon wealth across global private equity, infrastructure, real estate (e.g., stakes in Volkswagen, Glencore, Empire State Building) and strategic domestic assets.
• Kuwait Investment Authority (KIA): KIA is one of the oldest sovereign wealth funds and a GCC peer managing a diversified global portfolio across equities, fixed income, real estate and private equity. Comparable to Mubadala as a long-duration Gulf sovereign investor with global mandates.
• Norges Bank Investment Management (NBIM / Government Pension Fund Global): NBIM manages Norway's c. US$1.7 trillion Government Pension Fund Global with strict return and transparency mandates. Comparable to Mubadala as a major sovereign investor, although Mubadala is more diversified into alternatives and direct operating companies.
• China Investment Corporation (CIC): CIC is China's sovereign wealth fund with mandates across international public equities, alternative investments and direct holdings. Mubadala has partnered with CIC's affiliates (China Development Bank Capital, SAFE) and is consolidating China exposure alongside L'imad, making CIC a directly comparable peer.

Regional players

• Khazanah Nasional: Khazanah is Malaysia's sovereign wealth fund with a hybrid commercial/strategic mandate balancing domestic strategic holdings with global investments. Comparable to Mubadala's national-champion model, though smaller in scale and primarily focused on Southeast Asia.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Mubadala
• YouTubeyoutube.com/c/MubadalaInvestmentCompany
• Facebookfacebook.com/Mubadala
• LinkedInlinkedin.com/company/55897
• Instagraminstagram.com/mubadala_investment

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries9 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A12 records

Investments145 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mubadala