Investments by Abu Dhabi’s second-biggest sovereign investor Mubadala surged by a third last year, driven by a jump in deals in North America, private equity and artificial intelligence.
The sharp increase in capital deployment by the now $330bn fund underscores the appetite for deals from Abu Dhabi’s sovereign wealth funds, which were among the biggest sovereign spenders last year and are continuing to bet heavily on the US despite the economic uncertainty since President Donald Trump took office.
Mubadala made Dh119bn ($32.4bn) worth of investments in 2024, up from Dh89bn the previous year. Industry tracker Global SWF said it was the world’s most active sovereign wealth fund last year.
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