Mubadala Capital, the asset management subsidiary of Abu Dhabi’s Mubadala Investment Company, invested in Australian company SX Global, which is set up to promote the next FIM Supercross World Championship.
The investment will support SX Global’s expansion plans for motorcycle racing, Mubadala Capital said on Tuesday. The investment will help the Australian company capitalise on the exclusive rights it has to manage and promote the new FIM Supercross World Championship.
The financial details of the transaction were not disclosed.
“Our commitment to SX Global and the FIM Supercross World Championship builds on our strategy and track record of selectively investing in premier content properties with strong global appeal,” said Adib Mattar, head of private equity at Mubadala Capital.
“We expect that our investment in SX Global will introduce the exciting sport of professional supercross to a global audience.”
Set up in 2011, Mubadala Capital has grown significantly in scale over the past decade, with offices across the world. Along with its own balance sheet investments, the company manages more than $10 billion of third-party capital on behalf of institutional investors in all of its businesses, including two funds in Brazil focused on special situations, three private equity funds, two early-stage venture funds and a public fund.
It began operations as a wholly-owned asset management unit of Mubadala Investment Company in November last year, as part of Mubadala’s plans to “rigorously pursue” investment opportunities across the globe.
Mubadala, which manages $243bn of assets and invests on behalf of the Abu Dhabi government, drives the emirate's diversification efforts. It was the first sovereign wealth fund to manage third-party capital on behalf of other institutional investors as it looks to diversify operations away from oil.
Mubadala Capital has a strong portfolio of investments in companies across sports, media and entertainment — including EMI Music Publishing, Endeavor Group Holdings, Reigning Champs, Ultimate Fighting Championship (UFC) and the Yankees Entertainment and Sports Network (YES Network), among others, the statement said. It has also successfully exited from EMI Music Publishing and Restaurant Brands International.
Last August, Mubadala Capital closed its $1.6bn third private equity fund that will focus on investing in sectors including media, sports, consumer and food services across North America and Europe.
The investment in SX Global continues its plan of “backing world-class management teams in building differentiated global sports, media and entertainment businesses”, Mubadala Capital said.
In December 2021, FIM awarded SX Global the exclusive organisational and commercial rights to stage, manage and promote the FIM Supercross World Championship, which will launch later this year. The new event aims to showcase off-road motorbike racing in a new competitive format.
“With the international reach, resources and business-building experience of Mubadala Capital alongside us, we’re looking forward to establishing FIM Supercross World Championship as a leading global motorsport and entertainment property,” Tony Cochrane, president of SX Global, said.