Mubadala Investment Company and US-based private equity manager Silver Lake are to partner on a long-term investment strategy backed by a $2 billion investment from Abu Dhabi's strategic investment fund.
The strategy is based on a unique, 25-year lifecycle, which is much longer than the typical 7-10 year approach taken by private equity firms, and will be flexible in terms of investment structures, geographies and industries, a joint statement from the companies said on Wednesday. Mubadala has also taken a minority stake in Silver Lake, which specialises in technology investments. The terms for that deal were not publicly disclosed.
“As an institution that has long seen the potential of investing in the technology sector, we are excited to partner with Silver Lake, one of the world’s most respected technology investors, to capitalise on major opportunities within and beyond the industry,” said Khaldoon Al Mubarak, managing director and chief executive of Mubadala.
"Technology is the bedrock of the global economy, and fundamental to all other sectors that are being significantly digitalised. Our goal is to be well positioned to take advantage of this accelerated digital transformation and its potential, and we believe Silver Lake is the right partner and that this is an optimal structure for us.”
Silver Lake is a Silicon Valley-based firm with more than $60bn in combined assets under management and committed capital. It has invested in some of the world's best-known technology companies including AirBnb, Chinese payments giant Ant Financial, Expedia Group and Twitter. It has also made a minority investment in Abu Dhabi-owned City Football Group.
Mubadala and Silver Lake have previously collaborated on investments in a number of technology ventures, including entertainment and sports group Endeavour, Alphabet-owned driverless technology company Waymo and Reliance Industries' Jio Platforms.
Mubadala bought its minority stake in Silver Lake from Dyal Capital Partners. Dyal, a unit of investment management company Neuberger Berman, bought a non-voting equity interest of less than 10 per cent in Silver Lake in 2016 and will retain roughly half of its original investment, the statement said.
This is Mubadala's third major investment into a vehicle owned by a large, alternative asset manager in the past three months. Earlier this month, it became the lead investor in Barings Mubadala Enterprise, a private credit fund seeking to provide up to $3.5bn in mainly senior secured loans to European corporate entities over the next 18 months.
This followed on from a cornerstone investment in a $12bn private credit platform focused on large-scale direct lending rolled out by Apollo Global Management in July.
“We are extremely pleased to deepen our partnership with the visionary team at Mubadala, firmly rooted in our orientation as a long-term investor in the most iconic and enduring businesses,” said Silver Lake co-chief executives Egon Durban and Greg Mondre.
“Mubadala’s support has enabled us to launch an innovative strategy that is unprecedented in its multi-decade time horizon, underscoring our long-term commitment to our portfolio companies and providing tremendous strategic advantages as we seek to generate exceptional results for many years to come."
Silver Lake said the structure of its new strategy with Mubadala allows it to "capitalise on a wide range of investment opportunities, including those outside the mandates of our existing funds".
Mubadala, which has a $232bn portfolio spanning five continents, has interests in a range of sectors from aerospace and healthcare to real estate, utilities and oil and gas.
It has been a significant investor in technology companies for more than a decade, starting with chip maker AMD in 2007. It committed $15bn to Softbank's first Vision Fund and has its own technology funds in the US, Europe and the Middle East.
MATCH INFO
Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD
* Second leg in Australia scheduled for October 10
UAE currency: the story behind the money in your pockets
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
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How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Friday's schedule at the Etihad Airways Abu Dhabi Grand Prix
GP3 qualifying, 10:15am
Formula 2, practice 11:30am
Formula 1, first practice, 1pm
GP3 qualifying session, 3.10pm
Formula 1 second practice, 5pm
Formula 2 qualifying, 7pm
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Produced: Vidhu Vinod Chopra, Rajkumar Hirani
Director: Rajkumar Hirani
Cast: Ranbir Kapoor, Vicky Kaushal, Paresh Rawal, Anushka Sharma, Manish’s Koirala, Dia Mirza, Sonam Kapoor, Jim Sarbh, Boman Irani
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Transplants from the deceased have been carried out in hospitals across the globe for decades, but in some countries in the Middle East, including the UAE, the practise was banned until relatively recently.
Opinion has been divided as to whether organ donations from a deceased person is permissible in Islam.
The body is viewed as sacred, during and after death, thus prohibiting cremation and tattoos.
One school of thought viewed the removal of organs after death as equally impermissible.
That view has largely changed, and among scholars and indeed many in society, to be seen as permissible to save another life.
'Shakuntala Devi'
Starring: Vidya Balan, Sanya Malhotra
Director: Anu Menon
Rating: Three out of five stars
Unresolved crisis
Russia and Ukraine have been locked in a bitter conflict since 2014, when Ukraine’s Kremlin-friendly president was ousted, Moscow annexed Crimea and then backed a separatist insurgency in the east.
Fighting between the Russia-backed rebels and Ukrainian forces has killed more than 14,000 people. In 2015, France and Germany helped broker a peace deal, known as the Minsk agreements, that ended large-scale hostilities but failed to bring a political settlement of the conflict.
The Kremlin has repeatedly accused Kiev of sabotaging the deal, and Ukrainian officials in recent weeks said that implementing it in full would hurt Ukraine.
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Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Edited by Sarah Cleave, Comma Press
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Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
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Tips for used car buyers
- Choose cars with GCC specifications
- Get a service history for cars less than five years old
- Don’t go cheap on the inspection
- Check for oil leaks
- Do a Google search on the standard problems for your car model
- Do your due diligence. Get a transfer of ownership done at an official RTA centre
- Check the vehicle’s condition. You don’t want to buy a car that’s a good deal but ends up costing you Dh10,000 in repairs every month
- Validate warranty and service contracts with the relevant agency and and make sure they are valid when ownership is transferred
- If you are planning to sell the car soon, buy one with a good resale value. The two most popular cars in the UAE are black or white in colour and other colours are harder to sell
Tarek Kabrit, chief executive of Seez, and Imad Hammad, chief executive and co-founder of CarSwitch.com
