The $140 billion private markets firm Ardian will invest in Mubadala Capital’s private equity assets and make a commitment to Mubadala’s private equity funds in a $2.1 billion transaction under a newly announced partnership.
Both firms have worked together since 2017, which marked a milestone transaction that established Mubadala Capital as a third-party asset manager and represented the first time a sovereign wealth fund has managed capital on behalf of institutional investors.
“This transaction is the culmination of a highly collaborative and close working relationship with Mubadala Capital over the past five years,” said Co-Head of Ardian U.S. and Member of the Ardian Executive Committee Mark Benedetti. “They are a well-respected team with an established track record, and this latest transaction is indicative of the importance we place on being a valuable long-term partner.”
The transaction culminates in a curated portfolio of 10 LP interests with a leading group of GPs predominantly in North America and Europe, as well as six high-quality direct investments. The portfolio assets were previously held on Mubadala Capital’s balance sheet following a successful spin-off from Mubadala Investment Company in 2021.
“We are proud to once again partner with a leading firm such as Ardian, with whom we have now been successfully working with for over five years and value the partnership tremendously. This transaction is a significant vote of confidence in our ability to create value for our investors and partners by executing against our strategy and differentiated approach to the private equity market,” said Hani Barhoush, managing director and CEO of Mubadala Capital, a unit of a $284 billion global sovereign investor headquartered in Abu Dhabi.
In total, Mubadala manages $17 billion across its own balance sheet and in third-party capital vehicles on behalf of institutional investors. These investments include four private equity funds, three early-stage venture funds and two funds in Brazil focused on special situations.
Mubadala’s private equity strategy focused on direct investments in North America and Europe in core sectors including media, sports and entertainment, consumer and food services, financial services and business services.
Evercore advised Mubadala on the Ardian transaction.
