Abu Dhabi, UAE: On the occasion of the visit to the United Arab Emirates of Bruno Le Maire, French Minister of the Economy and Finance, Mubadala Investment Company (“Mubadala”), one of the world’s leading sovereign wealth funds, today announced the signing of a Memorandum of Understanding (MoU) with Bpifrance, the French national investment bank, committing to the LAC I Fund, a multibillion fund managed by Bpifrance. The fund targets to raise €10 billion which will be invested in approximately 15 listed companies taken from a large pool of French world leading corporations over the next decade.
The MoU was signed by Waleed Al Mokarrab Al Muhairi from Mubadala and Nicolas Dufourcq from Bpifrance, in presence of Bruno Le Maire, French Minister of the Economy and Finance and Khaldoon Khalifa Al Mubarak, Mubadala’s Group Chief Executive Officer & Managing Director.
Waleed Al Mokarrab Al Muhairi, CEO of Mubadala’s Alternative Investments and Infrastructure Platform and Mubadala’s Deputy Group CEO, commented, “Mubadala has a strong track record of performance in France and we continue to see significant investment opportunities in the market. Through our partnership with Bpifrance, and the commitment to the LAC I fund, we will have access to exceptional businesses in France that deliver compelling returns. As a global investor, Mubadala continues to deploy capital across markets and sectors as part of a highly-diversified and growing portfolio of assets.”
Nicolas Dufourcq, CEO of Bpifrance, added, “In strengthening our partnership with Mubadala, an experienced global institutional investor, we can help businesses across France to overcome their financing challenges and achieve their long-term goals. Over the coming years, we anticipate that an even wider range of dynamic French companies will require capital to catalyze their development. Our fund will be well-positioned to deploy capital to businesses in promising sectors that can deliver exceptional returns while contributing to the French economy.”
In 2017, Mubadala joined Bpifrance to create a €1 billion investment platform aimed at private investments in the French economy. The investment platform was designed to foster the growth of French companies across technology, healthcare, education and others while pursuing superior risk-adjusted returns.
-Ends-
About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for its shareholder, the Government of Abu Dhabi.
Mubadala’s US$229 billion portfolio spans five continents with interests in multiple sectors including aerospace, ICT, semiconductors, metals and mining, renewable energy, oil and gas, petrochemicals, utilities, healthcare, real estate, pharmaceuticals and medical technology, agribusiness and a global portfolio of financial holdings across all asset classes. Mubadala has offices in Rio de Janeiro, Moscow, New York and San Francisco, with a joint venture in Hong Kong.
Mubadala is a trusted partner, an engaged shareholder and a responsible global company that is committed to world-class standards of governance.
For more information, please visit: www.mubadala.com
About Bpifrance
Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extrafinancial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export…).
For more information, please visit: www.bpifrance.fr and presse.bpifrance.fr - Follow us on Twitter: @Bpifrance - @BpifrancePresse
© Press Release 2020Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
