UAE - Mubasher: Mubadala Capital, the asset management subsidiary of Mubadala Investment Company (Mubadala), has announced an investment in its private equity business by BlackRock’s Secondaries and Liquidity Solutions group (BlackRock) and a consortium of global institutional investors.
The BlackRock-led consortium will invest in a portfolio of assets, managed by Mubadala Capital, alongside a $400 million commitment into Mubadala Capital’s third private equity fund (Fund III), which held its final close at $1.6 billion, according to a press release on Wednesday.
Mubadala Capital manages c. $9 billion of assets in third-party managed funds across its private equity, public equities, venture capital, and Brazil businesses.
This partnership was formed in parallel with the final close of BlackRock’s $3 billion Secondaries and Liquidity Solutions (SLS) strategy, which is among the world's largest fundraisers for an inaugural private equity secondaries strategy to date.
Through the SLS strategy, BlackRock seeks to invest in mid-sized secondary transactions.
The Head of Private Equity at Mubadala Capital, Adib Martin Mattar, said: "BlackRock’s institutional approach to underwriting and partnership-orientation has helped create what we expect to be a landmark transaction, especially in a highly uncertain market environment."
Meanwhile, the Managing Director of the BlackRock Secondaries and Liquidity Solutions team, Veena Isaac, commented: "We look forward to being a Limited Partner and continuing to explore further ways to collaborate with Mubadala Capital in what is clearly a highly differentiated investment platform that has demonstrated an ability to leverage its sovereign access and network for the benefit of its investors."
