Mubadala invests $500m in US-based Carlyle Group

Mubadala to receive equity in world’s second-biggest private equity firm, fund currently owns 7.5% stake
Mubadala invests $500m in US-based Carlyle Group
Mubadala CEO Khaldoon Al Mubarak
By Shane McGinley
Thu 16 Dec 2010 03:20 PM

Mubadala Development Company, Abu Dhabi’s state-backed investment fund, has invested a further $500m in US asset management firm the Carlyle Group, it said on Thursday.

In exchange for its $500m investment, Mubadala will receive a combination of convertible subordinated notes and additional equity in the Carlyle general partnership.

The private-equity firm sold a 7.5 percent stake to Mubadala in 2007 after shelving plans for an IPO amid the credit crisis.

The collaboration will seek to identify investment opportunities in the Middle East and North Africa, specifically in the healthcare, aerospace and technology sectors.

 “Since the initial investment in 2007, our two firms have collaborated across a number of industry sectors. We are confident in Carlyle’s ongoing success as a global alternative asset manager and are pleased to support their strategic initiatives, including product and geographic expansion,” said Mubadala CEO Khaldoon Al Mubarak.

The Carlyle Group currently has $97.7bn of assets under management.

 

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