Mubadala Capital has started operations as a wholly-owned asset management unit of Abu Dhabi’s Mubadala Investment Company as it looks to “rigorously pursue” investment opportunities across the globe.
“Mubadala Capital has a proven track record of sourcing proprietary investment opportunities and generating attractive risk-adjusted returns, while building trusted long-term partnerships with leading institutional investors,” Hani Barhoush, chief executive and managing director of Mubadala Capital, said in a statement on Thursday.
“By operating as a wholly owned asset, we will be able to accelerate the growth of Mubadala Capital and more rigorously pursue our highly focused investment strategies, while continuing to invest both through our own balance sheet and on behalf of our external investors.”
Set up in 2011, Mubadala Capital has grown significantly in scale over the past decade, and currently manages more than $15 billion in assets. Apart from Abu Dhabi, it has offices in New York, London, San Francisco and Rio de Janeiro.
While Mubadala Capital is now operating as an asset, it remains fully owned by Mubadala, enabling it to leverage the scale and network of its sovereign parent, while enhancing its focus on delivering long-term value for its investors and partners, according to the statement.
Mubadala Capital currently manages three private equity funds including two early-stage venture funds, a “long-biased public equities fund” and two Brazil special opportunities funds with assets in a wide range of sectors and geographies.
Earlier this year, it closed its $1.6bn third private equity fund focusing on investing in sectors including media, sports, consumer and food services across North America and Europe.
Mubadala manages $243bn of assets and invests on behalf of the Abu Dhabi government. The sovereign fund is driving the emirate’s efforts to diversify its revenue base and generate income from sources other than oil.