Mubadala Capital, the financial investment arm of Abu Dhabi’s Mubadala Development Company, has announced a US$2.5 billion investment deal with French private equity firm Ardian, which includes the creation of a private equity fund.
Under the terms of the transaction, Ardian will invest $1.75bn to acquire a majority stake in an existing $2.5bn Mubadala Capital private equity portfolio, which includes interests in predominantly North American buyout and growth funds as well as 14 direct investments.
Ardian, which manages about $60bn worth of assets, will also invest $750 million in a new $1.5bn portfolio established by Mubadala Capital, which will invest the same amount.
The new fund will focus on “partnering with best-in-class management and investment teams across multiple sectors, including sports, media, entertainment, consumer food, energy infrastructure and others” in North America and Europe, Mubadala said in a statement yesterday.
The tie up with Ardian comes after reports circulated last year that Mubadala Capital was in discussions to launch a fund to co-invest with outside partners on private equity deals, with reports of discussions between the two parties surfacing in January.
The transaction, which closed on March 31, is the first time that Mubadala Capital has accepted money from a third-party investor.
“Managing funds on behalf of third-party investors is both an endorsement of our strong investment track record and part of a longer-term strategy to further institutionalise the Mubadala Capital platform,” said Waleed Al Muhairi, Mubadala’s deputy group chief executive and chief executive of the company’s emerging sectors platform.
Sovereign investors such as Singapore’s Temasek have also executed similar deals, bringing in outside institutional investors.
In 2014, Temasek launched Astrea II, a co-investment vehicle in which Ardian was an investor.
“This deal represents one of Ardian’s largest transactions with a sovereign wealth fund. We look forward to developing our relationship with Mubadala Capital, and continuing to support their team going forward,” said Vincent Gombault, Ardian’s head of funds of funds and private debt.
Mubadala Capital, which was established in 2011, manages more than $10bn worth of assets, and holds stakes in international investment firms including the Carlyle Group, Verno Capital and Bahrain’s Investcorp.
In December, Mubadala Capital became the first major Abu Dhabi-based entity to set up under the jurisdiction of Abu Dhabi Global Market, the capital’s new financial free zone.
jeverington@thenational.ae
* With agencies
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THE BIO
Bio Box
Role Model: Sheikh Zayed, God bless his soul
Favorite book: Zayed Biography of the leader
Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet
Favorite food: seafood
Favorite place to travel: Lebanon
Favorite movie: Braveheart
Zimbabwe v UAE, ODI series
All matches at the Harare Sports Club
- 1st ODI, Wednesday, April 10
- 2nd ODI, Friday, April 12
- 3rd ODI, Sunday, April 14
- 4th ODI, Sunday, April 16
Squads:
- UAE: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
- Zimbabwe: Peter Moor (captain), Solomon Mire, Brian Chari, Regis Chakabva, Sean Williams, Timycen Maruma, Sikandar Raza, Donald Tiripano, Kyle Jarvis, Tendai Chatara, Chris Mpofu, Craig Ervine, Brandon Mavuta, Ainsley Ndlovu, Tony Munyonga, Elton Chigumbura
COMPANY PROFILE
● Company: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
● Based: Dubai, UAE
● Industry: M&A
● Funding size: Bootstrapped
● No of employees: Nine
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The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
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Feeding the thousands for iftar
Six industrial scale vats of 500litres each are used to cook the kanji or broth
Each vat contains kanji or porridge to feed 1,000 people
The rice porridge is poured into a 500ml plastic box
350 plastic tubs are placed in one container trolley
Each aluminium container trolley weighing 300kg is unloaded by a small crane fitted on a truck
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
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Company%20profile
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The years Ramadan fell in May
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
Rebel%20Moon%20-%20Part%20One%3A%20A%20Child%20of%20Fire
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THREE
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APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Call of Duty: Black Ops 6
Developer: Treyarch, Raven Software
Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5