Abu Dhabi-based sovereign wealth fund, Mubadala, has secured US$1.6 billion in capital commitment following the close of its third private equity (PE) fund.
The MIC Capital Partners III exceeded its initial target with investment from a range of private and institutional investors based locally and internationally.
The fund is focused on direct investments in Europe and North America with a particular focus on media, sports and entertainment; consumer and food services; financial services; and industrials.
So far the fund has invested $1.4 billion in nine assets including software company REEF Technology, US-based sports broadcaster YES Network and New York-based food processing company Peterson Farms.
The capital raise follows the recent announcement of a partnership between Mubadala and BlackRock that will see the latter invest $1.1 billion in Mubadala’s PE funds as part of a consortium.
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