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Mubadala Investment Company

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Mubadala Investment Company

Mubadala Investment Company PJSC (Arabic: شركة مبادلة للاستثمار), or simply Mubadala, is a state-owned global investment firm that acts as one of the sovereign wealth funds of the government of Abu Dhabi. The company was established in 2017 when then-named Mubadala Development Company (now Mamoura Diversified Global Holding) and the International Petroleum Investment Company (IPIC) merged. Headquartered in Abu Dhabi, Mubadala also has offices in London, Rio de Janeiro, New York, San Francisco and Beijing.

Established in 1984, the International Petroleum Investment Company (IPIC) was created to advance Abu Dhabi’s natural petroleum wealth for the development of the emirate. Mubadala Development Company followed in 2002 to further diversify the economy. In June 2016, it was announced that Mubadala Development Company would merge with the International Petroleum Investment Company. In 2017, ownership of both MDC and IPIC was transferred to a newly created parent company, Mubadala Investment Company. The company is a wholly owned investment vehicle of the government of Abu Dhabi, and Sheikh Mansour bin Zayed Al Nahyan, vice-president and deputy prime minister of the United Arab Emirates, is chairman of the company.

Mubadala has invested in logistics software startup Turvo, Alphabet-owned self-driving technology company Waymo, Reliance Jio Platforms, UK life sciences company Envision, and Telegram. Mubadala is a parent company of GlobalFoundries, a semiconductor foundry company.

Mubadala owns stakes in numerous companies, including a 7.5 percent share in the Carlyle Group.

In 2007 Mubadala announced an initial investment in AMD. As of 2017 Mubadala had a stake of 12.9 percent in the chipmaker. In 2019 Mubadala sold its entire stake in AMD.

In 2019, Mubadala and Falcon Edge Capital established Abu Dhabi Catalyst Partners, a $1 billion joint venture to invest in financial institutions. In November 2020, Mubadala transferred ownership of two information technology companies it previously owned, Injazat and Khazna, to artificial intelligence company, G42, and took a stake in G42.

In 2021, Mubadala purchased a 2.6% stake in En+ Group, a manufacturer of green aluminum, from Polina Yumasheva, the former wife of Russian businessman Oleg Deripaska. The same year, Mubadala purchased MetrôRio, the company that holds the operations for the Rio de Janeiro metro, from Invepar. In 2016, Mubadala became the biggest external shareholder at Investcorp, after acquiring 20% stakes in the Bahraini firm. In 2023, a former UK minister, Gerry Grimstone was criticized for conducting and not declaring 13 meetings with Mubadala and Khaldoon al-Mubarak, after acquiring the role as an adviser and the chair of planned climate fund at Investcorp. In March 2021, Grimstone finalized a deal between the UK and Mubadala, allowing it to oversee investment of around £10 billion in the UK from the UAE. A senior research officer at Transparency International UK, Rose Whiffen said if a minister is working for a firm and meeting its shareholder several times while in office, it should be declared or assessed before approval.

A unit of the company, Mubadala Capital, invested €50 million in the Novalpina Capital private equity fund of €1 billion, which bought the NSO Group in 2019. Reports revealed that the UAE targeted human rights activists, journalists, and Princess Haya using the Pegasus spyware, during the same time. Mubadala Capital got a seat on Novalpina’s committee of largest investors.

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