Mubadala To Commit To Bpifrance’s LAC I Fund
Muhammad Irfan 1 month ago Mon 24th February 2020 | 10:15 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 24th Feb, 2020) 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 MoU was signed by Waleed Al Mokarrab Al Muhairi, CEO of Mubadala’s Alternative Investments and Infrastructure Platform and Mubadala’s Deputy Group CEO, and Nicolas Dufourcq, CEO of 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 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.