Mubadala Investment Company, the parent company of sovereign wealth funds Mubadala Development and IPIC, has released its new organizational structure.
Mubadala Investment Company, the newly-formed strategic investment company wholly owned by the government of Abu Dhabi, today announced that its Board of Directors – chaired by His Highness Sheikh Mohammed bin Zayed al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and its vice-chairman, His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE and Minister of Presidential Affairs – has endorsed the organizational structure of the new company and its senior management team. The decision was made at the Board meeting on February 15th chaired by His Highness Sheikh Mansour.
Mubadala Investment Company (profile) will be organized across four investment platforms of significant scale: (1) Petroleum and Petrochemicals; (2) Technology, Manufacturing and Mining; (3) Aerospace, Information and Communications Technology, and Renewables; and (4) Alternative Investments and Infrastructure.
The company’s four investment platforms will help accelerate diversification of the Abu Dhabi economy, through strategic investments across critical sectors within the United Arab Emirates and abroad.
In terms of asset size, the platforms are:
Petroleum and Petrochemicals (31.1%), including significant investments in companies such as CEPSA, Nova Chemicals, Borealis and Mubadala Petroleum;
Alternative Investments and Infrastructure (31%), with significant equity investments worldwide and in different sectors including health care and real estate;
Technology, Manufacturing and Mining (21.6%), with significant investments in GLOBALFOUNDRIES, Emirates Global Aluminium, AMD, and Matsa; and
Aerospace, ICT and Renewables (10.6%), with significant investments including Yahsat and Masdar.
Corporate assets, including cash, will hold the balance (5.7%) of the approximately AED 460 billion ($125 billion) portfolio.*
Khaldoon Khalifa Al Mubarak, Managing Director and CEO of Mubadala Investment Company, said: “This marks an important milestone for the new company. Committees comprised of Mubadala and IPIC leaders, have worked very hard over the past six months to put in place a proposal for a structure that will best serve the new company’s mandate. The structure, governance and world-class talent will enable the Mubadala Investment Company to be an investment powerhouse for Abu Dhabi.”
Al Mubarak said he expected the Mubadala Investment Company to begin operations in May of 2017.
(* = book value and platform percentages based on International Financial Reporting Standards as of year-end Financial Year 2015)