Abu Dhabi's Mubadala Capital Bags US$900 Million For Third Brazil Fund
The fund surpassed its $750 million target, with about one-third already deployed across a gym chain, the Rio de Janeiro metro, a toll road, and a medical university.
Mubadala Capital, an Abu Dhabi-based sovereign investor, has raised US$900 million for its third Brazil-focused fund, exceeding its initial target despite geopolitical tensions that have raised questions over Gulf investment flows abroad.
The Financial Times reported that the firm committed $250 million as an anchor investor to the vehicle, with the remaining capital coming from international investors, including pension funds, family offices, and private capital firms.
The fund exceeded its original $750 million target, with roughly one-third already deployed into assets spanning a gym chain, the Rio de Janeiro metro, a toll road, and a medical university. The fundraise reflects Mubadala Capital’s continued investment activity in Brazil, Latin America’s largest economy, which it had first entered in 2012, backing ventures linked to former billionaire Eike Batista before the collapse of his energy and commodities empire a year later.
Since then, Mubadala Capital has continued to build on its presence in the country, managing third-party capital for around a decade. The firm raised $322 million for a Brazil-focused fund in 2022, and followed it with another $710 million vehicle in 2023.
