The sovereign wealth fund quietly reshaping global technology and infrastructure

The sovereign wealth fund quietly reshaping global technology and infrastructure
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In short: From semiconductor foundries to electric vehicle charging, Abu Dhabi’s Mubadala Investment Company wields immense global influence. This state-owned giant manages a diverse portfolio that spans from Silicon Valley startups to the Rio de Janeiro metro, acting as a pivotal player in the world's most critical industrial sectors.

Sheikh Mansour bin Zayed Al Nahyan chairs Mubadala Investment Company, which serves as a sovereign investment arm for Abu Dhabi's government. The current entity was formed in 2017 through the merger of the Mubadala Development Company, established in 2002, and the International Petroleum Investment Company (IPIC), which dates back to 1984. While its roots lie in advancing Abu Dhabi's natural petroleum wealth, the firm has aggressively pivoted toward economic diversification. The company's leadership includes Vice-President and Deputy Prime Minister of the UAE, Sheikh Mansour bin Zayed Al Nahyan. Beyond its headquarters in Abu Dhabi, the firm maintains a global footprint with offices in London, New York, Beijing, San Francisco, and Rio de Janeiro.

The firm’s reach extends into high-stakes technology and infrastructure. The fund maintains a significant presence in semiconductor manufacturing via Mubadala Technology (formerly ATIC), holding GlobalFoundries and having previously spent billions to grow chip production in New York, Dresden, and Singapore. Its portfolio includes stakes in Alphabet-owned Waymo, the communications platform Telegram, and the digital insurance platform wefox. The fund's influence reaches into the financial sector, holding a 7.5 percent share in the Carlyle Group and having established the $1 billion Abu Dhabi Catalyst Partners joint venture. Its energy division, Mubadala Energy, is also expanding into blue hydrogen and carbon capture.

However, this global expansion has not been without friction. The firm's acquisition of a 70% stake in Fortress Investment Group faced scrutiny from U.S. national security officers regarding UAE-China ties, though approval was granted in May 2024. More recently, the firm has faced legal challenges from the founders of the Turkish delivery service Getir, who alleged an 'illegal coup' regarding a 2024 restructuring plan. Despite these tensions, Mubadala continues to expand, recently acquiring the Canadian asset manager CI Financial Corp. for $8.9 billion in August 2025. The firm's recent activity includes a $1.95 billion acquisition of a 20% stake in Truist Insurance Holdings alongside Stone Point Capital. Additionally, Mubadala Capital recently secured a 42% stake in Silver Rock Financial LP in late 2024.

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