Mubadala Investment Company is turning to Asia’s growing consumer markets and technological advances as it looks to keep up the prolific dealmaking of recent years. The $385 billion Abu Dhabi sovereign wealth fund is looking to boost investments in China, India, Japan, and South Korea, with plans to deploy about 10% of its assets each year globally, Chief Financial Officer Carlos Obeid said at the Milken Institute Asia Summit in Singapore last week. The energy transition, technology, the restructuring of global supply chains, and evolving consumer behavior are Mubadala’s four focus areas, he added.
Last month, the world’s most active sovereign wealth fund bought a minority stake in Luckin Coffee, which may bring the Chinese chain to Abu Dhabi. About a quarter of Mubadala’s portfolio is at home in the UAE, where it has brought brands like Four Seasons and Cleveland Clinic, as part of its mandate to draw global players into the domestic economy, some through private equity investments.
