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Tue 8 Sep 2009 02:08 AM

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Mubadala posts H1 profits of AED737.7m

Abu Dhabi-owned investment fund also sees 46% growth in assets under mgmt at half time.

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.

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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