BlackRock-led consortium invests in Abu Dhabi-based Mubadala Capital’s PE assets

Global investment manager BlackRock has led a consortium of investors to invest in the private equity business of Mubadala Capital, the asset management subsidiary of Abu Dhabi state fund Mubadala Investment Company.

The investment will be made into a portfolio of assets currently managed by Mubadala Capital, in addition to a $400 million commitment into Mubadala Capital’s third private equity fund, according to a statement. The third fund recently exceeded its fundraising target and held its final close at $1.6 billion, Mubadala added.

Several media reports pegged the total investment by the BlackRock consortium at $1.2 billion.

“BlackRock’s institutional approach to underwriting and partnership-orientation has helped create what we expect to be a landmark transaction, especially in a highly uncertain market environment,” said Adib Martin Mattar, head of private equity at Mubadala Capital.

Mubadala Capital manages $9 billion of assets in third-party managed funds across its private equity, public equities, venture capital, and Brazil businesses, according to Mubadala’s website. The asset management arm is the first sovereign wealth fund to manage third-party capital.

It has made investments of over $25 billion. The company typically invests in the range of $50-250 million in control and active minority positions.

Mubadala Investment Company currently manages $243 billion of assets. In 2020, the sovereign fund posted a total comprehensive income of AED72 billion ($19.6 billion), compared to AED53 billion in 2019.

The performance is attributable to Mubadala’s strategy to increase investments in sectors with growth tailwinds through direct investments and partnerships with fund managers, it said in May.

Last year, Mubadala invested AED3 billion in India’s Reliance Retail, and another AED4.3 billion in Reliance’s telecom business Jio.

In April 2021, Mubadala along with alternative manager KKR backed Australian logistics property group LOGOS in a venture to acquire and develop logistics facilities across Australia, among other deals.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.