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French firm to take stake in Mubadala’s $2b portfolio

|By Arabian Post Staff| French alternative investment firm Ardian is in talks to take a stake in Mubadala Development Co.’s $2 billion private equity portfolio, Bloomberg reported quoting sources.

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Under the terms being discussed, according to Bloomberg, the Abu Dhabi sovereign fund would place the assets into a new vehicle, and Ardian would buy a 50 percent stake for about $1 billion. The French firm would also provide $200 million in capital for deals, but apparently no final decisions have been made.

“Mubadala is still in discussions with a number of world-class investment firms to create an investment vehicle for private equity deals,” Mubadala spokesman Brian Lott said Tuesday. A spokeswoman for Ardian didn’t immediately respond to e-mailed requests by Bloomberg for comment.

The portfolio resides in the group’s investment-management division, Mubadala Capital, which holds stakes in investment firms such as Carlyle Group LP and Mubadala Infrastructure Partners, as well as companies such as EMI Music Publishing, according to its website.

Ardian, which raised $10.8 billion last year for its seventh pool dedicated to buying private equity fund stakes, has completed a number of high-profile deals in the sector in recent years — including buying GE Capital’s private equity unit and a $1 billion portfolio from Singapore sovereign wealth fund GIC Pte in 2015. The company has about $60 billion in assets under management.-With Bloomberg