Mubadala Capital, the wholly-owned alternative asset management arm of Mubadala Investment Company, has closed its Private Equity Fund IV with total commitments of $3.1 billion, exceeding its initial target by more than $1 billion, according to an announcement on Wednesday.
Fund IV attracted commitments from both new and existing limited partners, including leading US pension funds, university endowments, insurance plans, sovereign wealth funds, other asset managers and family offices across key markets in North America, Europe, the Middle East, and Asia.
The fund will target middle-market companies in various sectors, including media, sports & entertainment, consumer & food services, financial services, and business services.
Its portfolio includes notable companies such as Fortress Investment Group, a leading global asset manager focused on credit and real estate; and Canada Cartage, one of the country’s largest short-haul logistics providers.
A notable recent investment is the acquisition of Bugaboo, the leading juvenile product company; and of Thrive Foods, the world’s leading freeze-dried food company.
Mubadala Capital manages over $24 billion of assets through its four investment businesses spanning various private market strategies, including private equity, special situations, solutions, and venture capital.
“Our team continues to generate attractive risk-adjusted returns for our investors by pairing the advantages of our focused and disciplined investment strategy and approach with Mubadala’s global reach and network. We are excited about both the existing Fund IV portfolio and the current pipeline,” said Mubadala Capital CEO and managing director Hani Barhoush.
Furthermore, Mubadala Capital strengthened its leadership team late last year with the appointment of Oscar Fahlgren as its first Chief Investment Officer.
Fahlgren was instrumental in establishing Mubadala Capital’s private equity business in Brazil.