Speaking at the Bloomberg New Economy Forum in New Delhi, Waleed Al Muhairi downplayed the idea that the Premier League decision would chill Mubadala's appetite for the UK. "I think that's its own separate process," he said when asked if the finding would affect UK deployment. He added, "We have been and continue to deploy in the United Kingdom and what goes into our calculus for where we deploy are partnerships, risk-reward and what makes sense over time."
Following a four-year probe by England's Premier League, Abu Dhabi-owned Manchester City was judged guilty on all but one of 115 charges, a decision the club is appealing. The fallout has put strain on the relationship between the UK and the UAE, with forecasts of substantial foreign investment on the line. Over the last five years, UAE capital flowing into the UK has topped £30 billion ($39.7 billion) across sectors such as defense, life sciences and technology. Both sides want the financial relationship to endure, but frustration has grown amid the controversy.
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Mubadala manages about $385 billion and is counted among Abu Dhabi's three wealth funds, while also ranking as one of the emirate's most active investors. It led the Sovereign Investment Partnership with the UK that was signed in 2021. Al Muhairi said the fund is still deploying at the same pace inside the United Arab Emirates even with the Iran war, and roughly 25% remains invested locally.
"That percentage will remain for us as a firm. But other entities are more inward looking," he said. On geographic mix, he called the US the most attractive large economy on a risk-reward basis and noted, "That's why 42% of our capital is there, and I feel comfortable in saying that at least in the short-to-medium term, it will remain the case." He also recently joined the board at L'imad Holding, the newest sovereign wealth fund in Abu Dhabi.
A major state investor signaling continued UK deployment while keeping 42% of capital in the US and about a quarter at home is a useful tell: big pools of money are prioritizing risk and return over noise. For everyday investors, the better compass is where long-term capital actually moves, not where the loudest headlines point.
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