BlackRock’s secondaries and liquidity solutions group and a consortium of global institutional investors has led investment in the private equity business of Mubadala Capital, the asset management subsidiary of Mubadala Investment Co.

The BlackRock-led consortium’s investment was made into a portfolio of assets currently managed by Mubadala Capital, in addition to a US$400 million commitment into Mubadala Capital’s third private equity fund, fund III.

Adib Martin Mattar, head of private equity at Mubadala Capital, said, “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. We are looking forward to a long-term partnership with BlackRock SLS and all participating investors.”

Veena Isaac, managing director of the BlackRock secondaries and liquidity solutions team, said, “Completing this investment was highly collaborative between BlackRock, our partners and Mubadala Capital. We look forward to being a Limited Partner and continuing to explore further ways to collaborate with Mubadala Capital in what is clearly a highly differentiated investment platform that has demonstrated an ability to leverage its sovereign access and network for the benefit of its investors.”

Mubadala Capital manages $9 billion of assets in third-party managed funds across its private equity, public equities, venture capital and Brazil businesses.