Mubadala Investment Company Releases 2019 Annual Review
- Total Comprehensive Income at AED 53bn and AUM now at AED 853bn
- Investments of AED 68bn deployed during 2019 across different asset classes and sectors, from credit to technology, life sciences, renewables & agribusiness
Mubadala Investment Company, an Abu Dhabi sovereign investor, today released its 2019 Annual Review.
In 2019, Mubadala achieved a Total Comprehensive Income of AED 53 billion for the year, compared to AED 12.5 billion in 2018, driven by Mubadala's public equities portfolio and funds, as well as the company’s assets across various sectors.
Mubadala concluded a number of key transactions as it established new partnerships to invest locally and internationally across sectors that contribute towards the advancement of Abu Dhabi’s economy and its diversification. A total of AED 68 billion was deployed in various asset classes and across growth sectors, ranging from credit to technology, life sciences, health care, renewables, transportation and agribusiness.
Monetization of mature assets and distributions from investments totalled AED 63 billion in 2019, as Mubadala continued to align and optimize its portfolio according to its long-term strategy.
At year-end, Assets under Management stood at AED 853 billion, compared to AED 840 billion in 2018.
Group Chief Executive Officer and Managing Director, Khaldoon Khalifa Al Mubarak, said: “Responsible deployment of capital, strong partnerships and agile investing remain at the core of Mubadala’s strategy. And now, as the world faces a global pandemic, we are working across our portfolio in partnership with communities which have been hit hard by COVID-19.”
“2019 was a remarkable year for Mubadala. Not only did we deliver strong financial results, but we also continued to grow our presence across multiple asset classes in key sectors and markets to help further diversify Abu Dhabi’s economy.”
Chief Financial Officer, Carlos Obeid, added: “In 2019, we continued to manage our balance sheet carefully, with a prudent debt-to-equity ratio of 11.8%. With a strong cash position, we will continue to look for opportunities in public funds and private assets as we manage through this complex economic cycle, while remaining a long-term, patient investor.”
Key financial and operational highlights from 2019 included:
- Total Comprehensive Income (TCI) in 2019 was AED 53 billion (AED 12.5 billion in 2018)
- Assets under Management (AUM) in 2019 reached AED 853 billion (AED 840 billion in 2018):
- Portfolio spans over 50 countries, in both emerging and developed markets
- 43% of Mubadala’s portfolio is comprised of direct and indirect investments in private equity, with 21% in public markets and 11% in real estate and infrastructure, among others
- In 2019, Mubadala realized AED 63 billion in monetization of mature assets and distributions from investments locally and abroad
- Mubadala deployed AED 68 billion across new and existing priority sectors and funds, including:
- Two new MENA technology funds that will invest $250 million in tech start-ups in the Middle East region, in line with the mission of supporting the development of the tech ecosystem in Abu Dhabi’s Hub71
- Acquired Amana Healthcare to complement its portfolio of healthcare assets
- Signed an agreement to invest up to AED 1.8 billion (US $500 million) in Cologix, the leading network-neutral interconnection and hyperscale edge data center company in North America
- AED 477.4 million (US $130 million) investment in Equinox Gold, an emerging gold producer operating in North and South America with a strong growth pipeline
- Cornerstone investor through Masdar in the UK Government’s £400 million Charging Infrastructure Investment Fund (CIIF), with an investment of AED 158.6 million (£35 million)
- Over AED 40 billion in various funds covering real estate, equities, private equity, global infrastructure, technology and others
Mubadala reiterates its intent to begin publishing, as part of its public disclosure in 2021, benchmarking against long-term indices, rather than other metrics that are no longer relevant to a long-term investor such as annual revenue or annual net income.