Mubadala reported capital deployed of AED 143 billion (US$39 billion) for 2025. Asia House’s 2025 report forecasts Gulf–emerging Asia trade at US$802 billion by 2030, against the US$578 billion that HSBC’s insights page still carries. Gulf sovereign funds made 97 transactions in the first nine months of 2025, according to Global SWF data cited in the same Asia House report.
Who
Mubadala Investment Company is an Abu Dhabi-based sovereign investor. By its own description, its portfolio "spans six continents with interests in multiple sectors and asset classes". Asia House names Mubadala, ADIA and ADQ as Abu Dhabi’s flagship sovereign funds. Sources: Mubadala, Asia House.
Assets under management and deployment
Mubadala’s FY2025 results give capital deployed up 20% to AED 143 billion (US$39 billion). Assets under management, proceeds and returns are in Mubadala’s Asia-Pacific profile. Source: Mubadala FY2025 results release.
Where it invests in Asia
Asia House reports that Gulf SWFs’ Asia share of allocations rose to 17%, up from 12% in 2022. China, Hong Kong and India lead as destinations. Its Mubadala examples are a US$400 million commitment to Kakao Mobility and US$150 million in the US$445 million IPO of Hong Kong insurer FWD Group Holding. Mubadala’s CFO has put Asia at about 13% of the portfolio.
Trade forecast. HSBC’s insights page projects Asia–Gulf corridor trade at US$578 billion by 2030 and gives US$516 billion for 2022. The US$578 billion originates in the 2022 Asia House edition, which says GCC–emerging Asia trade is set to reach approximately US$578 billion by 2030 if current growth rates are maintained. Asia House’s 2025 report puts 2024 trade at US$516 billion and says it could reach US$802 billion by 2030 if current growth rates are sustained. That forecast rests on 2010–2024 average annual growth, with Gulf-Emerging Asia trade growing 7.6 per cent a year on average. A footnote records that the 2023 edition’s US$516bn for 2022 was revised downwards to US$512bn in the 2024 edition.
Deal count. Asia House cites Global SWF for the first nine months of 2025: Gulf SWFs accounted for 40% of global activity, deploying US$56.3 billion across 97 transactions.
Latest known moves
On 10 September 2026 Mubadala agreed a significant minority investment in Luckin Coffee, alongside Centurium Capital. The release gives an aggregate value of approximately US$1 billion and does not state Mubadala’s own share; the full account of the Luckin Coffee agreement has the detail. Source: Mubadala release.
Why it matters for the corridor: A deck that sets US$39 billion of fund deployment, 97 sovereign transactions and a US$802 billion trade forecast side by side combines a one-fund full-year figure, a Gulf-wide nine-month count and a trend extrapolation. Each needs its basis stated.
Editorial assessment
The deal announcements do not say this; the points below are the assessment of the desk.
- The US$802 billion figure is a forecast resting on a 2010–2024 trend basis. The US$578 billion figure is superseded by Asia House’s later forecast.
- Asia House uses 40% twice with different meanings: a share of global SWF activity, and a share of an estimated US$56 billion directed to Asia. Global SWF’s underlying data is not shown.
- Fundraisers should ask Mubadala’s Asia private equity team for ticket size and co-investment appetite. The US$1 billion aggregate value of the Luckin transaction is not Mubadala’s cheque.