Top backers PIF, Mubadala rethink role in new SoftBank Vision Fund

Masayoshi Son. Photographer: Kiyoshi Ota/Bloomberg

The biggest backers of SoftBank Group Corp.’s gargantuan Vision Fund are reconsidering how much to commit to its next investment vehicle as an oversized bet on flexible workspace provider WeWork sours.

Saudi Arabia’s Public Investment Fund, the first fund’s biggest backer with $45 billion, is now only planning to reinvest profits from that vehicle into the second fund, according to people familiar with the talks. Abu Dhabi’s Mubadala Investment Co., which invested $15 billion, is considering paring its future commitment to below $10 billion, the people said, asking not to be identified in disclosing internal deliberations.

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