Abu Dhabi’s state-backed alternatives asset manager Mubadala Capital has closed its private equity fund MIC Capital Partners IV with $3.1B in captured commitments while also formally announcing the appointment of its first CIO.
According to an October 22 press release, the fourth PE fund was oversubscribed, exceeding its $2B target, and drew new and existing LPs from across North America, Europe, the Middle East, and Asia. Fund IV targets broad-sector, middle-market portfolio companies, with investments already made in global asset manager Fortress Investment Group and short-haul logistics provider Canada Cartage, as well as recent acquisitions of parenting products company Bugaboo and freeze-dried food provider Thrive Foods.
Alongside the fourth vintage fund’s closing, Mubadala made its first announcement on the promotion of Oscar Fahlgren as the firm’s first CIO last year. Fahlgren began with Mubadala as head of Brazil in November 2010, per his LinkedIn profile, and in April 2022 also took on the role of senior partner for the asset management subsidiary.
Mubadala Capital said it manages over $24B in assets from its private market strategies. The firm is a subsidiary of Mubadala Investment Company, the sovereign investor of the Emirati government.
View the press release here.
For more public pension insights and a comprehensive library of public plan minutes, book a demo of Dakota Marketplace! 
