UAE - Mubasher: Mubadala Capital, a 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 has attracted several new and existing investors, including pension plans, endowments, insurance plans, government institutions, family offices, and private equity firms across North America, Europe, the Middle East, and Asia, according to a recent press release.
Hence, Fund III has surpassed its $1.5 billion target.
Meanwhile, the fund will focus on key sector areas in North America and Europe such as media, sports, and entertainment, consumer and food services, financial services, and industrials and business services.
To date, the fund comprises around $1.4 billion of investments across nine assets, including REEF Technology in North America, YES Network in New York and Tri-State area, and Peterson Farms in the US.
The Head of Private Equity at Mubadala Capital, Adib Mattar, said: "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 i) sourcing opportunities; ii) the ability to leverage resources during diligence; or iii) value creation as an owner, with a highly focused investment strategy and a well-aligned and motivated team."
