Mubadala Capital, the wholly-owned asset management subsidiary of Mubadala announced raising over $710 million for its second flagship investment fund in Brazil, Brazil Special Opportunities Fund II (BSOF II).
The Abu Dhabi-based fund announced the closure of the fund on Tuesday.
“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,” the fund said.
Mubadala Capital’s decade of success
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.”
He said the fund’s 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 fundraise 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,” Fahlgren said.
“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,” he added.
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,” the fund said.
Mubadala Capital was the first sovereign wealth fund to manage capital on behalf of third-party institutional investors.
The organisation manages about $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.
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