Mubadala Capital, the asset management subsidiary of Mubadala Investment Company, has closed its third Private Equity fund, MIC Capital Partners III (Fund III), with total commitments of $1.6 billion.
Fund III surpassed its initial target and raised capital commitments from a diverse set of new and existing investors including leading pension plans, endowments, insurance plans, government institutions, family offices and private equity firms across North America, Europe, the Middle East and Asia.
Adib Mattar, head of Private Equity at Mubadala Capital, said: “We began our private equity investment practice 13 years ago. The closing of Fund III represents a major milestone for the Private Equity team and also for Mubadala Capital. To have the opportunity to partner with a group of leading institutional investors from across the world is both a privilege for us and a meaningful vote of confidence by the market in our ability to originate compelling new investment opportunities, partner with leading management teams and create value across our portfolio in order to continue delivering strong risk-adjusted returns to our investors.”
Mubadala Capital’s Fund III is focused on direct investments in North America and Europe across various core sector areas where the team has a strong network and track record including: Media, sports and entertainment; Consumer and food services; Financial services; and Industrials and business services.
To date, Fund III consists of approximately $1.4 billion of investments across nine high-quality assets including REEF Technology, a proximity-as-a-service platform enabling and accelerating the growth of the North American on-demand economy; YES Network, the leading Regional Sports Network in the New York and Tri-State area; and Peterson Farms, the leading processor of fresh-cut apples, quick-frozen fruit products and not-from concentrate juice in the United States, among others.
“The success of our Private Equity business demonstrates the strength of Mubadala Capital and its strategy of generating attractive risk-adjusted returns by combining the benefits of our sovereign ownership whether through sourcing opportunities; the ability to leverage resources during diligence; or value creation as an owner, with a highly focused investment strategy and a well-aligned and motivated team,” Mattar added. “These efforts are supported by a disciplined and robust investment process focused on capital preservation and downside protection.”
Mubadala Capital opened offices in New York and London in order to better capitalize on investment opportunities and portfolio management in its key markets as well as engage more meaningfully with its global investor base.
Mubadala Capital is a differentiated and value-added investor that is able to source proprietary opportunities on a global basis and actively leverage the Mubadala network in its various business activities. Its highly disciplined and institutionalized process of evaluating investment opportunities provides unique advantages to the benefit of its investors.
Mubadala Capital manages around $9 billion of assets in third-party managed funds across its private equity, public equities, venture capital and Brazil businesses, and is the first sovereign wealth fund to manage third-party capital on behalf of other institutional investors. The growth of Mubadala Capital as a global asset management firm with headquarters in Abu Dhabi and a focus on international investment activities is a further testament to Mubadala’s entrepreneurial approach to business building and a continued diversification away from a reliance on natural resources.
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