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Mubadala and Ardian in $2.1bn private equity partnership

Ardian will invest in a portfolio of private equity assets managed by Mubadala Capital

Paris-based private equity fund Ardian and Abu Dhabi state investor Mubadala’s asset management arm said on Thursday they were forming a $2.1 billion private equity partnership.

Ardian would invest in a portfolio of private equity assets managed by Mubadala Capital, and make a primary commitment to its private equity funds, a joint statement said.

As part of the transaction, Ardian and Mubadala Capital curated a portfolio of 10 limited partnership interests with a group of general partners predominantly in North America and Europe, as well as six direct investments.

The assets in the new portfolio were previously held on Mubadala Capital’s balance sheet following a spin-off from Mubadala Investment Company in 2021, the statement added.  

Last week, Mubadala CEO Khaldoon Al Mubarak said that 2023 would be a tough year for the global economy, but that the fund would be focused on opportunities serving a longer horizon.

“If I look at the one-year horizon, yes 2023 is going to be tough… with more headwinds than tailwinds in most places around the world,” he told the World Policy Conference in Abu Dhabi.

As a global investor, he said Mubadala would continue to follow an “agnostic” investment approach looking at growth patterns and long-term sustainable returns, and would maintain its focus on sectors such as renewable energy and technology.