Mubadala to commit to Bpifrance's LAC I Fund

The fund targets to raise €10bln which will be invested in approximately 15 listed companies taken from a large pool of French world leading corporations

  
From left - Nicolas Dufourcq, Bruno Le Maire, Khaldoon Khalifa Al Mubarak, Waleed Al Mokarrab Al Muhairi

From left - Nicolas Dufourcq, Bruno Le Maire, Khaldoon Khalifa Al Mubarak, Waleed Al Mokarrab Al Muhairi

Abu Dhabi, UAE: On the occasion of the visit to the United Arab Emirates of Bruno Le Maire, French Minister of the Economy and Finance, Mubadala Investment Company (“Mubadala”), one of the world’s leading sovereign wealth funds, today announced the signing of a Memorandum of Understanding (MoU) with Bpifrance, the French national investment bank, committing to the LAC I Fund, a multibillion fund managed by Bpifrance. The fund targets to raise €10 billion which will be invested in approximately 15 listed companies taken from a large pool of French world leading corporations over the next decade.

The MoU was signed by Waleed Al Mokarrab Al Muhairi from Mubadala and Nicolas Dufourcq from Bpifrance, in presence of Bruno Le Maire, French Minister of the Economy and Finance and Khaldoon Khalifa Al Mubarak, Mubadala’s Group Chief Executive Officer & Managing Director.

Waleed Al Mokarrab Al Muhairi, CEO of Mubadala’s Alternative Investments and Infrastructure Platform and Mubadala’s Deputy Group CEO, commented, “Mubadala has a strong track record of performance in France and we continue to see significant investment opportunities in the market. Through our partnership with Bpifrance, and the commitment to the LAC I fund, we will have access to exceptional businesses in France that deliver compelling returns. As a global investor, Mubadala continues to deploy capital across markets and sectors as part of a highly-diversified and growing portfolio of assets.”

Nicolas Dufourcq, CEO of Bpifrance, added, “In strengthening our partnership with Mubadala, an experienced global institutional investor, we can help businesses across France to overcome their financing challenges and achieve their long-term goals. Over the coming years, we anticipate that an even wider range of dynamic French companies will require capital to catalyze their development. Our fund will be well-positioned to deploy capital to businesses in promising sectors that can deliver exceptional returns while contributing to the French economy.”

In 2017, Mubadala joined Bpifrance to create a €1 billion investment platform aimed at private investments in the French economy. The investment platform was designed to foster the growth of French companies across technology, healthcare, education and others while pursuing superior risk-adjusted returns.

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About Mubadala Investment Company

Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for its shareholder, the Government of Abu Dhabi.

Mubadala’s US$229 billion portfolio spans five continents with interests in multiple sectors including aerospace, ICT, semiconductors, metals and mining, renewable energy, oil and gas, petrochemicals, utilities, healthcare, real estate, pharmaceuticals and medical technology, agribusiness and a global portfolio of financial holdings across all asset classes. Mubadala has offices in Rio de Janeiro, Moscow, New York and San Francisco, with a joint venture in Hong Kong.

Mubadala is a trusted partner, an engaged shareholder and a responsible global company that is committed to world-class standards of governance. 

For more information, please visit: www.mubadala.com 

About Bpifrance

Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extrafinancial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export…).

For more information, please visit: www.bpifrance.fr  and presse.bpifrance.fr - Follow us on Twitter: @Bpifrance - @BpifrancePresse

© Press Release 2020

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