Mubadala Capital hits almost USD 1 bn for third Brazil fund: Abu Dhabi sovereign wealth fund’s investment arm Mubadala Capital raised USD 900 mn for its third overseas Brazil fund, overshooting its initial USD 750 mn, the Financial Times reports.

IN CONTEXT- While the parent company, Mubadala Investment Company, anchored down USD 250 mn, the rest of the financing came from international pension funds and private investors. The influx of capital signals continued investor confidence in Abu Dhabi investment vehicles despite ongoing regional security threats.

The details: One-third of the fund is already deployed, targeting companies in distress across Brazil, including a gym chain, the Rio metro, a toll road, and a medical university.

Despite rising speculations that Gulf states might invest inwards to address infrastructure damage and energy security, Mubadala Capital’s Chief Investment Officer Oscar Fahlgren told the outlet that the firm has no plans to redirect the firm’s USD 430 bn in assets towards the Middle East. It’s not just Mubadala: the Abu Dhabi Investment Authority has also kept active, ramping up exposure to private credit in Europe and Asia.

Mubadala’s been around the block in Brazil: The investment arm already has deep roots in the country, first entering Brazil in 2012 with financial backing from former tycoon Eike Batista. It previously invested USD 7.3 bn to fund biofuel production, a Burger King franchisee, and ownership of the organizer of Formula 1’s São Paulo Grand Prix.

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