Mubadala Capital closes private equity Fund IV
Mubadala Capital, the wholly owned alternative asset management subsidiary of Mubadala Investment Company, announced the successful close of its fourth private equity fund, MIC Capital Partners IV (“Fund IV”), securing total commitments of $3.1 billion, surpassing its initial target size of $2 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.
Mubadala has backed several insurance startups including Wefox and Gabi.
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.
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.
“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.” – Mubadala Capital Chief Executive Officer and Managing Director Hani Barhoush.