French private equity firm Adrian has teamed up with Abu Dhabi-based asset manager Mubadala Capital in a deal that could see more than US$2.1 billion in investment.
The equity partnership will see Ardian invest in a portfolio of private equity assets managed by Mubadala Capital and make a primary commitment to Mubadala Capital’s private equity funds.
Mubadala Capital is the asset management arm of the Abu Dhabi sovereign wealth fund.
The two companies have also developed a portfolio with several general partners in North America and Europe and some direct investments, all involving assets previously held on Mubadala Capital’s balance sheet.
The partnership formalises a relationship between Ardian and Mubadala Capital that’s existed since 2017.
©2022 funds global mena