• Capital deployment up 20% year-on-year to AED 143 billion and proceeds increase 27% to AED 138 billion
  • 5 Year IRR of 10.7% and 10 Year IRR of 10.3% reflect consistent long-term performance

Abu Dhabi: Mubadala Investment Company (“Mubadala”), an Abu Dhabi–based sovereign investor, today reported strong financial performance in its 2025 annual results.

Assets under management grew 17% in 2025 to AED 1.4 trillion (US$385 billion), with annualized five- and ten-year returns exceeding 10%.

“The strength of Mubadala’s performance in 2025 reflects the long-term strategy to invest in key sectors of growth in the UAE and abroad. That strategy and our portfolio performance over the last five and ten years means Mubadala remains resilient and well positioned to weather the current challenges facing the regional and global economy,” said Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO.

“For nearly a quarter of a century Mubadala has been investing in creating sector-based champions in the UAE and around the world. In 2025, we bolstered our AI capabilities in Abu Dhabi and continued to deploy capital underpinning the UAE’s vision of greater economic diversification. With our solid track record, we are confident we will emerge from these challenging times stronger than before.”

Key Financial Highlights:

Mubadala’s 2025 results reflect its success as a disciplined global capital platform:

  • Assets under management grew 17% year-over-year to AED 1.4 trillion (US$385 billion).
  • Five- and ten-year annualized rates of return were 10.7% and 10.3% respectively.
  • Capital deployed grew 20% to AED 143 billion (US$39 billion).
  • Proceeds grew 27% to AED 138 billion (US$38 billion).

“2025 was another highly active year for Mubadala, with both deployment and proceeds reaching record levels, reflecting the scale and maturity of our investment platform across different asset classes and different geographies thereby contributing to the resilience of our balance sheet,” said Carlos Obeid, Chief Financial Officer. “Importantly, this was achieved while maintaining a robust liquidity position that is built on a consistent access to diversified sources of capital. This discipline provides us with the flexibility to remain resilient in a challenging global environment and to capitalize on opportunities arising from the shifting global economic landscape.”

Financial Reporting

Mubadala focuses on long-term value creation and, in line with its sovereign investment mandate, reports multi-year performance metrics. Since 2021, the company has not disclosed annual financial figures such as revenue and net income but has disclosed rolling 5-year IRR and, in 2024, began publishing 10-year IRR figures, reflecting the long-term nature of its capital deployment.

The Annual Review 2025 can be viewed here https://annual2025.mubadala.com/.

About Mubadala Investment Company

Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi. Mubadala’s US$385 billion (AED 1.4 trillion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates. For more information, please visit: www.mubadala.com

For further information
Senior Vice President,
Corporate Communications:
Roland Buerk
rbuerk@mubadala.ae 
+971589898190

UAE Value Creation Highlights: 

In 2025, Mubadala supported the creation of high-quality jobs in the UAE, facilitated inward capital flows, and accelerated the development of industries underpinning the nation’s long-term competitiveness.

  • The UAE Investments platform reinforced its role in national value creation and economic diversification.
    • Contributed AED 45 billion in GDP impact, equivalent to 5.7% of Abu Dhabi’s non-oil GDP.
    • Directly and indirectly supported 98,000 jobs in Abu Dhabi, a 51% increase since 2021.
  • Aldar and Mubadala capital launched Aldar Capital – a platform connecting global investors with real asset opportunities across the GCC. Headquartered in ADGM, Aldar Capital will provide global institutional investors with professionally managed real asset investment offerings, with the first fund seeking to raise US$1 billion (AED 3.7 billion) when it launches in 2026.
  • Launched Mubadala Bio as a new national life sciences champion, significantly scaling UAE biopharma capability with 10 global facilities. During the year it began local manufacturing of eight essential medicines, expanding access to critical therapies and reinforcing national drug security while catalyzing a sustainable UAE life sciences ecosystem.
  • Emirates Global Aluminium (EGA) advanced plans for the first new primary aluminum plant in the US in decades while also pioneering next-generation smelting technology.
  • Announced a landmark AED 60+ billion expansion of Abu Dhabi’s financial district on Al Maryah island in partnership with Aldar, further underscoring Abu Dhabi’s position as the ‘Capital of Capital’.
  • M42 launched a groundbreaking program with Oracle Health to create unified patient records accessible across the UAE, integrating data from the Emirate Genome Program directly into the electronic health record to support pharmacogenomic recommendations at the point of care.
  • Masdar completed the ground-breaking of the world’s largest renewable energy project, integrating solar power and battery storage, capable of delivering 1 gigawatt (GW) of baseload renewable energy around the clock at a globally competitive tariff, in partnership with EWEC.

Global Portfolio Highlights: Mubadala’s global platforms were among the most active in the organization’s history, deploying capital and bolstering partnerships across North America, Europe, and Asia, reflecting the depth of opportunities across AI, technology, healthcare, advanced industries, energy infrastructure and other sectors.

  • Launched a US$1 billion (AED 3.7 billion) private credit partnership with Fortress to expand capital solutions for middle-market and asset-backed opportunities, reinforcing Mubadala’s disciplined approach to scaling its global credit platform.
  • Made a significant reinvestment in PCI Pharma Services alongside Bain Capital and Kohlberg to support the expansion of PCI’s development and manufacturing capabilities across innovative biotherapies, biologics, and specialized drug therapies to meet growing global patient demand.
  • Partnered with Silver Lake in the take‑private of Endeavor Group, a leading global platform focused on talent representation, media, and entertainment (notably TKO: UFC and WWE). The transaction reinforced Mubadala’s strategic relationship with Silver Lake, providing exposure to a high‑quality, scaled franchise with strong cash‑generation and long‑term growth potential.
  • Sold a 24% minority stake in Arcadia Consumer Healthcare, a leading consumer health and wellness platform, concluding a four-year partnership alongside the Bansk Group during which Arcadia’s revenue tripled.
  • Invested US$600 million (AED 2.2 billion) in a minority stake alongside EQT and global institutional partners in Nord Anglia Education, the world’s leading premium international schools operator serving 100,000+ students across 37 countries.
  • Invested in a minority stake in Techem alongside Partners Group, GIC and TPG Rise Climate as part of a €6.7 billion (AED 28.8 billion) transaction supporting energy efficiency and decarbonization across the real estate sector, which accounts for around 40% of global CO2 emissions.
  • Acquired a 30% stake alongside Trustar Capital, FountainVest and Sinotrans in Loscam, a leading provider of pallet pooling and returnable packaging solutions across the Asia-Pacific region, marking Mubadala’s first investment in Asia’s industrial sector.
  • Mubadala invested US$253 million (AED 929 million) in vehicles managed by Ardian to acquire an interest in four ultra prime luxury retail properties in Paris and New York, leased to the Kering Group’s fashion houses.
  • Mubadala committed approximately €300 million (AED 1.29 billion) to Rezolv Energy alongside Actis, supporting the expansion of renewable power generation across Central and Eastern Europe. With projects under construction in Romania and Bulgaria and a strong development pipeline, the platform aims to accelerate clean energy deployment and strengthen regional energy security.
  • Partnered with Ardian to jointly invest in infrastructure secondaries with a focus on multi-asset, LP-led portfolios, committing US$500 million (AED 1.84 billion) to a bespoke account, with an option to deploy an additional US$500 million through co-investments.
  • Committed into a structured minority investment in Trucordia alongside Carlyle through a downside‑protected equity instrument. The transaction provides exposure to a scaled, asset‑light insurance brokerage platform in the United States.
  • Mubadala Capital successfully completed the CAD$12.1 billion (AED 32.2 billion) take-private of CI Financial, one of North America’s leading diversified asset and wealth management firms. With the close of this transaction, Mubadala Capital now manages, advises, and administers for clients and limited partners over US$430 billion (AED 1.58 trillion) in assets through its asset managers and strategic partnerships.  The scale underscores Mubadala Capital’s vision to build a leading asset management platform that combines institutional-quality alternative investments across multiple asset classes and geographies.
  • ADIC operates as Mubadala’s indirect investment arm. In 2025, ADIC deployed US$19 billion (AED 70 billion) with top-tier GPs and fund managers.
  • Mubadala committed additional capital to MGX, supporting its continued strategy to invest in artificial intelligence and advanced technologies. During the year, the AI Infrastructure Partnership (AIP), established by MGX, BlackRock and GIP with other partners, announced the acquisition of all the equity in Aligned Data Centers. MGX is partnering with Bpifrance, Mistral AI, and NVIDIA to build the largest AI campus in Europe located in the Paris region.