Mubadala Investment Company, an Abu Dhabi sovereign investor, released its 2021 financial results for the Group.
In 2021, Mubadala achieved a Total Comprehensive Income (TCI) attributable to the Owner of AED 122 billion for the year, compared to AED 72 billion in 2020. At year end, Assets Under Management across the group stood at AED 1,045 billion compared to AED 894 billion in 2020.
Growth was supported through investment returns, monetizing certain assets and new partnerships. Mubadala listed its wholly owned semiconductor manufacturing company, GlobalFoundries, on the NASDAQ, valuing the company at nearly $26 billion in one of the biggest flotations of 2021 in the United States. Yahsat’s IPO on the Abu Dhabi Securities Exchange supported the growth of Abu Dhabi as a capital marketplace and raised $731 million. ADNOC and Taqa became shareholders in Masdar, which was founded by Mubadala in 2006, to boost its renewable energy capacity to over 50 gigawatts by 2030.
Managing Director and Group Chief Executive Officer Khaldoon Khalifa Al Mubarak said: “Mubadala continues to invest in sectors that are changing the world and impacting global business. As markets rose and the economy began to recover from the pandemic, we looked for opportunities to take some of our strongest companies public and invest with world-class partners in high-growth sectors and geographies.”
“2021 was Mubadala’s strongest financial year in its 20-year history. We are managing for value as well as staying focused on our long-term mandate to find commercial opportunities despite the current challenging and complex global economic outlook, with headwinds such as inflation, supply chain disruptions and tighter monetary policy.”
Mubadala invested AED 125 billion during 2021 in key sectors in the United Arab Emirates and internationally. In the United Kingdom, Mubadala invested AED 2.5 billion in CityFibre, the UK’s largest independent fibre infrastructure platform, and expanded an existing partnership with Bpifrance with €4 billion to invest in developing French enterprises with proven growth potential, and high growth technology sectors in France.
Mubadala Health, which has brought some of the world’s best-known health care providers such as Imperial College of London and Cleveland Clinic to Abu Dhabi, launched as an integrated healthcare network to serve patients in the region seeking specialized care. Mubadala Capital, which began operations in 2011, became a wholly owned subsidiary with $13.7 billion assets under management including managing third-party capital.
Group Chief Financial Officer, Carlos Obeid, added: “Our consistent profit growth in 2021 reflects the relevance of Mubadala’s investment strategy to focus for the long-term on sectors, asset classes and geographies that are positively contributing to global progress. As the global economy began to recover, we maximised opportunities to monetize our mature assets and invest further into growing sectors with tailwinds. Mubadala ended the year more diversified and resilient, and better prepared for the more uncertain macroeconomic environment ahead.”
Key financial and operational highlights from 2021 included:
- Total Comprehensive Income (TCI) attributable to the Owner in 2021 was AED 122 billion (AED 72 billion in 2020)
- Assets under Management (AUM) in 2021 reached AED 1,045 billion (AED 894 billion in 2020)
- 34 percent of Mubadala’s portfolio is comprised of direct and indirect investments in private equity, with 31 percent in public markets and 14 percent in real estate and infrastructure, among others
- In 2021, Mubadala invested AED 125 billion of capital, including: o AED 1.3 billion in Culligan, a leader in sustainable water solutions
- AED 2.9 billion in Marshall Wace TOPS World Equity Fund, one of the largest alternative asset managers
As previously announced, Mubadala no longer releases annual data not relevant to a long-term investor, such as annual revenue or net income, and instead uses a multi-year metric. Its current five-year rolling rate of return is 12.2 percent.