Mubadala Capital, Abu Dhabi, UAE-based alternative asset management subsidiary of Mubadala Investment Company announced the close of its fourth private equity fund, MIC Capital Partners IV (“Fund IV”), securing total commitments of $3.1 billion, far surpassing its initial target size of $2.0 billion.
Fund IV welcomed commitments from both new and existing Limited Partners, including leading U.S. pension funds, university endowments, insurance plans, sovereign wealth funds, other asset managers and family offices across key markets in North America, Europe, the Middle East and Asia.
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Portfolio Investments that Resonate
Fund IV will focus on leading middle-market companies in various sectors, including media, sports & entertainment, consumer & food services, financial services and business services. Fund IV’s portfolio includes notable companies such as Fortress Investment Group, a leading global asset manager focused on credit and real estate, as well as Canada Cartage, one of the largest short-haul logistics providers in Canada. Recent notable investments include the acquisition of Bugaboo, a household name in the juvenile products space, as well as Thrive Foods, the global leader by capacity in the fast-growing freeze-dried food sector.
Mubadala Capital Chief Executive Officer and Managing Director Hani Barhoush said, “The strong reception we have received from Limited Partners in an incredibly challenging and competitive fundraising environment is a testament to the quality of our investment platform and our track record. Our team continues to generate attractive risk-adjusted returns for our investors by pairing the advantages of our focused and disciplined investment strategy and approach with Mubadala’s global reach and network. We are excited about both the existing Fund IV portfolio and the current pipeline.”
Strengthened Leadership with CIO Appointment
In addition to this fundraising achievement, Mubadala Capital continues to strengthen its leadership team with the appointment of its first Chief Investment Officer, Oscar Fahlgren late last year. Fahlgren, who was instrumental in establishing Mubadala Capital’s private equity business in Brazil and has a tenured career at the firm, noted, “Reaching this milestone underscores the confidence our investors have in our ability to generate value in a highly differentiated way. Over the course of almost 20 years, we have managed to combine the quality of our team with a flexible balance sheet and extensive global network in a way that has allowed us to identify attractive investment opportunities in the middle market regardless of market conditions.”
About Mubadala Capital
Mubadala Capital is the wholly-owned asset management subsidiary of Mubadala Investment Company, a c. $280 billion global sovereign investor headquartered in Abu Dhabi, UAE. Since its inception a decade ago, Mubadala Capital has grown to become a global asset manager of significant scale, with c. $23 billion of assets under management and a presence in London, New York, San Francisco, Rio de Janeiro, and Abu Dhabi.
Through its various businesses, Mubadala Capital manages over US $17 billion in third-party capital vehicles on behalf of its institutional investors, including four flagship private equity funds, four early-stage venture funds, three funds in Brazil focused on special opportunities and a highly diversified evergreen investment strategy focused on private market opportunities, as well as a series of co-investment vehicles, SPVs and continuation funds.
