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Mubadala’s asset management subsidiary Mubadala Capital raised USD 3.1 bn for its fourth private equity fund, surpassing its initial USD 2 bn target, according to a press release. The fund will focus on middle-market companies in various sectors, including media, sports and entertainment, consumer and food services, financial services, and business services.
Who contributed to the fund? New and existing limited partners, including US pension funds, university endowments, ins. plans, sovereign wealth funds, asset managers, and family offices across North America, Europe, the Middle East and Asia.
The fund will focus on USD 150-350 mn tickets per investment, with plans to raise that amount to USD 500 mn for ideas it finds exceptional, the Financial Times reports. It currently manages USD 24 bn in investments, mainly fueled by external investors.
The fund already has a few companies in its portfolio: The company completed its acquisition of a 68% majority stake in US asset manager Fortress, and acquired Canada Cartage in 2022, before later snapping up a majority stake in the stroller manufacturer Bugaboo Group in July 2024. The fund also counts Thrive Foods among its investments.
Solving a liquidity problem: “We are seeing a lot of limited partners are short on liquidity and there is a focus on realizations by a lot of funds, and that’s driving interesting opportunities for those of us who are well capitalized,” Mubadala Capital CIO Oscar Fahlgren told FT.
