Mubadala Investment Co., Abu Dhabi, is well-positioned to manage through the current markets situation despite being hit by a "double whammy" of the coronavirus crisis and collapse in energy prices.
"What happened as we entered 2020 was an incredible situation, a situation ... nobody could have probably planned for, prepared for or anticipated," said Khaldoon Khalifa al Mubarak, group CEO and managing director, in a video published Thursday on Mubadala's website.
Commenting on the sovereign wealth fund's 2019 annual review, Mr. Mubarak said Mubadala was hit by the "double whammy" of the coronavirus pandemic and "the correction that has happened in the oil and gas markets," with both occurring within a short period of time.
However, Mubadala's portfolio is diverse, the fund has a strong balance sheet and "a very strong liquid and cash position ... All of that, I think, positions us very well to handle this very extraordinary situation in the best way possible," Mr. Mubarak said. "The onus on us right now is to take the right decisions."