Mubadala Capital, the asset management subsidiary of Mubadala Investment Co., has closed its third private equity fund, MIC Capital Partners III, with total commitments of $1.6 billion. Fund III surpassed its initial target and raised capital commitments from a set of new and existing investors including pension plans, endowments, insurance plans, government institutions, family offices and private equity firms across North America, Europe, the Middle East and Asia.
Adib Mattar, head of private equity at Mubadala Capital, said, “We began our Private Equity investment practice 13 years ago. The closing of Fund III represents a major milestone for the Private Equity team and also for Mubadala Capital. To have the opportunity to partner with a group of leading institutional investors from across the world is both a privilege for us and a meaningful vote of confidence by the market in our ability to originate compelling new investment opportunities, partner with leading management teams and create value across our portfolio in order to continue delivering strong risk-adjusted returns to our investors.”
Mubadala Capital’s Fund III is focused on direct investments in North America and Europe across the following core sector areas including: media, sports and entertainment; consumer and food services; financial services; and Industrials and business services. To date, the fund consists of approximately $1.4 billion of investments across nine assets including Reef Technology, a proximity-as-a-service provider; Yes Network, a regional sports network in the New York and Tri-State area; and Peterson Farms, a processor of fresh-cut apples, quick-frozen fruit products and not-from concentrate juice in the United States, among others.