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Abu Dhabi’s sovereign wealth fund Mubadala co-led a USD 600 mn investment with Qatar Investment Authority in US trailer lessor Transportation Equipment Network (Ten), according to a press release. Ten’s parent company, I Squared Capital, will use the proceeds to support the lessor’s expansion and acquisition activities, such as the acquisition of TIP Canada.
The latest in a string of US investments: The US is a top investment target for Mubadala, with some USD 100 bn invested in the country as of last December, accounting for about 42% of its portfolio, Deputy CEO Waleed Al Muhairi told Bloomberg at the time.
About Ten: Ten is the US’ largest trailer lessor, with a combined fleet of 83k trailers across logistics hubs in the US and Canada.
