Mubadala Investment Company, the Abu Dhabi sovereign investor, is growing its presence in Asia for both financial and strategic reasons, according to Chief Financial Officer Carlos Obeid.
Speaking at a Milken Institute conference in Singapore, Obeid said Asian investments now make up 13% of Mubadala’s portfolio, up from 10% three years ago. He said the fund has worked “diligently” over that period to build its exposure to China, South Korea and India. “We believe there are a lot of opportunities across all the strategies and themes. So, we need more in Asia,” he said. “We have teams on the ground, we are heavily invested in developing a pipeline of opportunities for us.”
Mubadala reports US$385bn in assets under management on its website. Industry data platform Global SWF ranks it as the world’s most active sovereign wealth fund in the first nine months of 2026, having deployed more than US$26bn directly or through its subsidiaries.
Obeid said the fund invests the equivalent of about 10% of its portfolio each year, which came to US$39bn in 2025, and intends to keep to that pace. “Our strategy has been aligned with the objectives of the government: generating returns, but at the same time integrating the economy into the global economy,” he said. “The way we do that is by partnering with the best companies through our private equity investments, both direct and indirect.”
Mubadala invests around four global themes: the energy transition, advanced technology, global supply chains and new consumer needs. Its Asian deals this year include a US$1bn investment in China’s Luckin Coffee. Its wholly owned subsidiary Mubadala Energy has also been awarded a natural gas concession in Indonesia’s Andaman Sea.
