Abu Dhabi’s Mubadala Capital, the asset management subsidiary of Mubadala Investment Company, part of the UAE sovereign wealth fund, has closed its third Private Equity fund, MIC Capital Partners III (Fund III), with total commitments of $1.6 billion, surpassing its initial target.
Fund III raised capital commitments from new and existing investors, including leading pension plans, endowments, insurance plans, government institutions, family offices and private equity firms across North America, Europe, the Middle East and Asia.
Mubadala said its Fund III was focused on direct investments in North America and Europe across core sector areas, including media, sports and entertainment, consumer and food services, financial services and industrials and business services.
The Fund III consists of approximately $1.4 billion of investments across nine high-quality assets, while Mubadala Capital manages $9 billion of assets in third-party managed funds across its private equity, public equities, venture capital and Brazil businesses, and is the first sovereign wealth fund to manage third-party capital on behalf of other institutional investors.
