A consortium led by BlackRock has invested in private equity funds managed by Abu Dhabi sovereign wealth fund, Mubadala.
The consortium involves BlackRock’s secondaries and liquidity solutions group, along with several institutional investors.
The US$1.1 billion deal includes the purchase of $700 billion of assets managed by Mubadala Capital, the firm’s asset management subsidiary, and its first private equity fund.
In addition, BlackRock led a $400 billion investment in Mubadala Capital’s third private equity fund, which recently raised $1.6 billion in its final close.
Managing director of BlackRock’s secondaries and liquidity solutions team, Veena Isaac, said that the firm was looking forward to “being a limited partner and continuing to explore further ways to collaborate with Mubadala Capital”.
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