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Mubadala Capital has closed its fourth private equity fund, MIC Capital Partners IV (Fund IV), with total commitments of $3.1 billion, well above its initial target of $2 billion.
Mubadala Capital, which manages over $24 billion in assets, is the wholly owned alternative asset management subsidiary of Mubadala Investment Co., a key investment vehicle for the Abu Dhabi government.
Fund IV, which will focus on middle-market companies in various sectors, secured commitments from both new and existing partners, including US pension funds, university endowments, insurance plans, sovereign wealth funds, other asset managers and family offices across the world.
Fund IV’s portfolio includes companies such as global asset manager Fortress Investment Group, as well as Canada Cartage, a Canadian short-haul logistics provider.
(Writing by Brinda Darasha; editing by Seban Scaria)
