Mubadala, Abu Dhabi's sovereign investor, has lifted its exposure to Asia to 13 per cent of its portfolio, up from 10 per cent three years ago, as its chief financial officer said the fund would keep looking for opportunities across China, South Korea and India. Carlos Obeid told a Milken Institute conference in Singapore this week that the fund believes there are opportunities across all of its strategies and themes, and that it has teams on the ground building a pipeline of deals.

The fund manages $385 billion in assets and was the most active wealth fund in the world in the first nine months of 2026, deploying more than $26 billion directly or through its subsidiaries, according to the data platform Global SWF. Obeid said Mubadala invests the equivalent of 10 per cent of its portfolio globally each year, a pace of $39 billion in 2025, and intends to maintain it. He said the strategy is aligned with the objectives of the Abu Dhabi government, generating returns while integrating the emirate's economy into the global economy.

The energy transition, advanced technology, global supply chains and new consumer needs are the four pillars guiding the fund's global investments, Obeid said. Its Asian activity this year has ranged from a $1 billion investment in China's Luckin Coffee to a natural gas concession in Indonesia's Andaman Sea through its wholly owned subsidiary Mubadala Energy. The push comes as Singapore's Temasek prepares offices in Abu Dhabi and Riyadh early next year, adding competition for regional assets while creating scope for co-investment with local wealth funds.