UAE - Mubasher: Japan-based SoftBank Group's Vision Fund and some sovereign wealth funds in the Middle East have invested in a $2.5 billion private equity fund, established by the former US Treasury Secretary, Steven Mnuchin, according to Reuters citing the Financial Times' report.
Saudi Arabia's Public Investment Fund (PIF) and Abu Dhabi's Mubadala Investment Company were among the wealth funds that invested in Mnuchin's Liberty Strategic Capital.
Mubadala spokesperson told Reuters that it will contribute to around 2% of the total amount raised for the private equity fund so far.
Sources recently told Bloomberg that Mnuchin has secured around $2.5 billion for Liberty Strategic Capital, most of which comes from sovereign wealth funds in the Middle East, including Saudi Arabia's PIF.
