Big investors are short on cash too! Abu Dhabi sovereign wealth fund sells off billions of dollars in U.S. stock holdings

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Abu Dhabi sovereign funds are intensively selling off their holdings, cashing out billions of dollars at market highs.

This Tuesday, Mubadala Investment Company cashed out about $1.9 billion by selling shares in the chip manufacturer GlobalFoundries through block trades.

Abu Dhabi Investment Authority (ADIA) cashed out $273 million through a share sale of the medical supplier Medline.

These reductions occurred as global stock market sentiment continued to heat up. The S&P 500 Index has risen more than 19% since its March lows, providing a favorable window for sovereign funds to lock in gains.

Intensive Cash-Outs, Multiple Deals Landed One After Another

Mubadala completed a block trade of GlobalFoundries on Tuesday night, cashing out about $1.9 billion.

In its statement, Mubadala noted that GlobalFoundries remains an important long-term investment target, and the fund will still hold 73% of the company’s shares after the sale.

Mubadala stated its strong approval of GlobalFoundries’ strategic direction and believes that expanding the shareholder base will further strengthen the company’s market position.

Meanwhile, major shareholders of Medline completed a share sale last weekend, raising $273 million for Abu Dhabi Investment Authority.

This is ADIA's second cash-out from Medline this year; in March, it obtained $253 million through a reduction (including over-allotment rights).

On the same day, power equipment company Innio set offering terms for its $2 billion IPO. Abu Dhabi Investment Authority holds a significant minority stake in Innio’s parent company and will gain considerable returns from this.

Despite large-scale cash-outs, Abu Dhabi sovereign funds are actively investing in new assets.

Last week, Abu Dhabi Investment Authority participated in CVC Capital Partners Plc’s takeover offer for Italian pharmaceutical company Recordati SpA, valuing Recordati at about 10.7 billion euros (approximately $12.4 billion).

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