UAE Fund Mubadala Closes $1.6 Billion in Private Equity

Mubadala Capital, the asset management subsidiary of UAE sovereign wealth fund Mubadala Investment Company, has closed its third Private Equity fund having secured commitments of $1.6 billion.

Surpassing its initial target, the MIC Capital Partners III (Fund III) includes $1.4 billion of direct investments. Its investors are made up of new and existing parties, including government institutions, leading pension plans, endowments, insurance plans, family offices and private equity firms, all stemming from across the Middle East, Europe, North America and Asia.

Mubadala stated that the fund targeted direct investments in Europe and North America across the core sector areas of media, sports, entertainment, consumer and food services, financial services and industrial and business services.

"We began our Private Equity investment practice 13 years ago,” said Adib Mattar, Head of Private Equity at Mubadala Capital. “The closing of Fund III represents a major milestone for the Private Equity team and for Mubadala Capital.”

He described the partnerships with institutional investors as “a privilege” and a “meaningful vote of confidence by the market in our ability to originate compelling new investment opportunities.”

Mubadala, he affirmed, will continue to create value for their portfolio and deliver strong returns.

Overseeing a total of $9 billion worth of third-party managed funds in private equity, public equity, and venture capital, Mubadala is the first sovereign wealth fund responsible for third-party capital on behalf of other institutional investors.