Mubadala continues to advance UAE’s knowledge-based economy

His Highness Sheikh Mansour Bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court and Chairman of the Board of Directors of the Mubadala Investment Company, said that 2022 marked two decades since the Government of Abu Dhabi established Mubadala to advance a national agenda focused on knowledge creation, innovation, and developing even greater opportunities for future generations.

Sheikh Mansour added, “Since then, Mubadala’s commitment to that vision and its ability to further respond and support evolving national priorities has contributed to shaping the UAE and its place in the world today.”

The company’s partnership philosophy, its agility and long-term responsible investment approach have created a vast array of opportunities for Emiratis that did not exist two decades ago, he indicated.

He also noted, “Importantly, the economic diversification Mubadala has enabled has also had a fundamental impact on more than 200 nationalities in our region’s most dynamic and competitive economy.”

Beyond sustainable economic growth and associated financial returns, Mubadala’s impact is evidenced by domestic world-class healthcare and education infrastructure; a diverse, forward-looking economic base; and global investment leadership across sectors shaping a sustainable and positive future, he noted.

Sheikh Mansour drew attention that the company’s capabilities and standing as one of the world’s largest responsible investors is essential as we embark on new and highly ambitious programmes under the leadership of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan.

As always, as we continue to advance the UAE’s knowledge-based economy, and we will do so in a way that pioneers and contributes to solutions for critical global challenges in sectors such as health innovation, the climate emergency and future energy sources, Sheikh Mansour added.

He also stressed that Mubadala’s strategy is calibrated to advance these priorities and many more. In doing so, the company will continue to contribute to equipping the UAE and its future generations with opportunities to thrive in a world significantly different from today. This has been the driving vision of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, for more than two decades and must remain our ongoing focus.

I would like to thank Mubadala’s leadership, the entire team, and all our partners’ for their dedication which continue to enable nation-critical progress, he said in conclusion.

Meanwhile, Mubadala Investment Company (“Mubadala”), an Abu Dhabi sovereign investor, has released its 2022 financial results for the Group.

 Despite a challenging macroeconomic environment in 2022 that significantly impacted financial markets and investor sentiment, Mubadala outperformed global benchmarks, supported by active management of its portfolio, robust capital deployment and a considered monetization program.

Mubadala invested Dhs 107 billion in line with its strategy to invest in industries shaping the future, including life sciences, renewable energy and digital infrastructure. Mubadala backed two of the 10 biggest deals in healthcare in 2022, investing alongside EQT in Envirotainer, a provider of cold chain solutions for the pharmaceuticals industry; and, together with Warburg Pincus, in the  $2.6b purchase of Informa Pharma Intelligence —a data and software company for clinical trials and drug development. After the deal closed the company made an acquisition and subsequently rebranded to Norstella. In renewable energy, Mubadala invested $525 million together with BlackRock Real Assets in Tata Power Renewables, one of the largest renewable energy companies in India, as part of Mubadala’s rapidly growing clean energy portfolio.

Along with co-investors including Global Infrastructure Partners (“GIP”) Mubadala also acquired a 100 percent interest in Skyborn Renewables, the world’s largest private offshore wind developer. The investment included a stake in GIP’s 50 percent interest in Bluepoint Wind, an innovative 1.6GW project off the coast of New Jersey and New York.

During the year, Mubadala invested heavily in digital infrastructure, with USD $350 million deployed in PDG, Pan-Asia’s leading data center platform, along with a further equity commitment of GBP £300 million in CityFibre, the UK’s largest independent Full Fibre platform, building on an initial GBP £500 million investment in the company.

Mubadala made further investments in real estate and infrastructure, and other alternative investments, including private equity and credit. This included starting to deploy capital into European real estate credit via a new joint venture with Ares, an alternative investment company; a USD $2.1 billion private equity partnership transaction by Mubadala’s wholly-owned asset management subsidiary, Mubadala Capital, with France’s Ardian; and a partnership with KKR to jointly invest across performing private credit opportunities in the Asia-Pacific region.

To support capital recycling into high-potential investment areas, Mubadala received proceeds of AED 106 billion, including from the sale of a 24.9 percent stake in Borealis, the Austrian market leader in base chemicals and fertilizers. The Group sold Minas de Aguas Teñidas (MATSA) for  $1.87 billion with Trafigura. Mubadala also sold its remaining shares in Glencore.

WAM