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Saturday, 21 November 2009 09:05 UAE time

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Mubadala posts H1 profits of AED737.7m

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Tuesday, 08 September 2009
ASSETS GROW: Abu Dhabi government-owned Mubadala see 46 percent uplift in H1. (Getty Images)

Mubadala Development Company, the Abu Dhabi government-owned investment fund, said on Monday that first half profit came in at AED737.7 million, down 39 percent from a year earlier. 

However, assets under management grew 46% to AED79.4 billion, according to figures posted on the company's website.

Mubadala manages a multi-billion dollar portfolio of local, regional, and international investments in the energy, aerospace, real estate, healthcare, technology, infrastructure, and services sectors.

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In 2007 Mubadala bought an 8.1 percent stake in computer chip maker AMD for $622 million.

The fund has also paid $1.35 billion for a 7.5 percent stake in private equity giant Carlyle Group and owns a 51 percent holding in Dolphin Energy, a joint venture with France's Total and US firm Occidental.

Other investments include a 5 percent stake in Ferrari, a 25 percent holding in German firm LeasePlan and a 50 percent interest in Emirates Aluminium - the latter set to be the owner of the world's largest single-site aluminium smelter complex.

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