Six days after issuing our predictions for 2030, Mubadala has confirmed that is aiming at doubling its AuM in the next decade, which will place them among the world's Top 10 SWFs and fuel the growth, diversification and sustainability of Abu Dhabi.
In an interview with Bloomberg, Diego Lopez, managing director of Global SWF, said: "The organization will be pressured to drive the growth of the emirate in the years to come, bringing in diversification and sustainability."
Global SWF's 2021 Annual Report forecasts Mubadala's AUM will grow from US$232 billion in 2020 to US$457 billion by 2030 with CAGR of 7.0%.
After the significant investments done in 2020 including Reliance Jio, Reliance Retail and Silver Lake, MIC's organizational structure will change to adapt to the new portfolio. It will now be split into (i) UAE Investments; (ii) Disruptive Investments (incl. Mubadala Capital); (iii) Direct Investments (incl. IPIC's legacy portfolio) and (iv) RE and Infrastructure, both physical and digital.
The unknown continues to be the integration of Abu Dhabi Investment Council, which will continue to operate separately from the "Pineapple Towers". Liquidity will be very much needed if the government starts asking for larger annual dividends, beyond any potential withdrawal to Abu Dhabi Investment Authority (ADIA).