New York [US], October 10 (ANI/WAM): Mubadala Capital, the wholly-owned asset management subsidiary of Mubadala Investment Company (“Mubadala”), held a final close on its second flagship investment fund in Brazil, Brazil Special Opportunities Fund II (“BSOF II”), with total commitments in excess of USD 710 million.
BSOF II successfully raised capital from a diverse set of global investors, including a leading public pension fund, family offices, corporates, private equity funds and asset managers across North America, Europe, the Middle East and Asia.
Oscar Fahlgren, Mubadala Capital’s Chief Investment Officer and Head of the Brazil strategy, said: “The consummation of our second Brazilian flagship fund marks a decade-long track-record of successfully operating and investing in Brazil. Our team has developed extensive experience evaluating and completing complex investments, even in situations where the macroeconomic environment is not always favourable. We believe that the success of this fundraiser is a testament to both our consistent investment strategy and the strength of our local investment team who continuously seek to drive positive outcomes for our investors. Of course, none of this would be possible without the support of our existing and new limited partners who have entrusted us with their capital.”
BSOF II will continue its strategy of investing primarily in control positions in mature companies that are facing some form of complexity or distress, but where the underlying business fundamentals are compelling. This strategy enables BSOF II to acquire these businesses at attractive entry points, creating a margin of safety at the closing of the transaction that reduces BSOF II’s dependency on Brazil’s economic cycles, including currency depreciation while retaining upside exposure associated with a growing economy. BSOF II seeks out situations where value can be created immediately upon closing of the transaction as any underlying complexity is typically immediately resolved, creating a pathway to delivering strong risk-adjusted returns to our investors.
Mubadala Capital was the first sovereign wealth fund to manage capital on behalf of third-party institutional investors. The organization manages c. USD 20 billion in aggregate across its own balance sheet investments and third-party capital vehicles across its Private Equity, Solutions, Venture Capital and Brazil businesses. The growth of Mubadala Capital as a global asset management firm, with headquarters in Abu Dhabi and a focus on international investment activities, is a further testament to Mubadala’s entrepreneurial approach to business building and continued diversification away from reliance on natural resources. (ANI/WAM)
