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Arabian Business
02-05-2025
- Business
- Arabian Business
Mubadala Capital and TWG Global in a game-changing partnership
In what is being hailed as a 'new chapter in global finance', Abu Dhabi's Mubadala Capital, the asset management subsidiary of Mubadala Investment Company, and the US-based TWG Global have entered into a multi-faceted, multi-billion-dollar collaboration. As part of the strategic investment alliance, Mubadala Capital will anchor and lead a US$10 billion syndicated investment in TWG's US$15 billion equity raise. TWG will use the proceeds to capitalise on its proprietary investment opportunities. That's the 'usual' part of the deal. But this one goes beyond normal. Historic financial collaboration For its part, TWG will commit US$2.5 billion to Mubadala Capital products and acquire a strategic minority stake. It will also aim to increase its commitments to up to another US$20 billion of investment capital over time. Global SWF, the company that tracks all sovereign wealth funds across the globe, called it 'one of the most intriguing financial announcements of 2025 so far'. In a blog post, Global SWF wrote: 'This deal is remarkable not just for its sheer scale – anchored by a US$10 billion syndicated investment and a US$2.5 billion mutual capital commitment – but for what it signals about the evolving relationship between private equity and sovereign wealth funds. 'This marks a new chapter in global finance: a private investment firm acquiring a minority equity stake in a sovereign wealth fund's asset management platform. That's almost unheard of.' TWG Global is a holding company led by investors Mark Walter and Thomas Tull. With an enterprise value over US$40 billion, it has interests across financial services, insurance, AI and technology, energy and is especially strong in sports, media, and entertainment. Its portfolio includes prominent sports franchises such as the LA Dodgers, LA Lakers and Chelsea FC. The collaboration is part of Mubadala Capital's strategy to expand its partnerships with leading global investors and strengthen its position as a leading global asset manager. Hani Barhoush, Managing Director and CEO of Mubadala Capital, commented: 'By combining our institutional expertise and capital resources through this unique alignment of interests, we are strengthening our joint abilities to access and scale high-quality investment opportunities globally.' TWG's Mark Walter remarked: 'We are excited to deepen our relationship with Mubadala Capital, a global leader that shares our long-term investment philosophy and our commitment to excellence. 'The convergence of business and new technology is creating unprecedented investment opportunities. This collaboration enhances our ability to capitalise on that opportunity set and provides us with additional access to world-class investment strategies.' Global SWF also found the interest overlap between the two entities 'compelling'. 'TWG Global brings a portfolio rich in sports franchises, and stakes in Guggenheim Investments and Palantir-related AI ventures. Mubadala Capital, for its part, has been actively acquiring sports media assets and mid-market entertainment companies through its MIC Capital Partners funds,' said Global SWF. 'This partnership gives Mubadala indirect ownership exposure to iconic Western sports franchises – a savvy move amid the rising valuation of global sports assets and the convergence of content, fan engagement, and streaming monetisation. It also cements Mubadala's push into US alternative assets at a time when American political ties with the UAE are being reinforced post-Trump's 2024 re-election. 'Through TWG, Mubadala is gaining the sports and leisure exposure that its Saudi peer, the Public Investment Fund (PIF), has had to build from scratch, originating its own direct investments. 'By inviting a private investor to take a minority stake in its manager, Mubadala Capital is enhancing alignment with TWG's capital now directly tied to Mubadala's success as a manager, not just as a product user. An equity commitment from an experienced PE sponsor like TWG also reinforces Mubadala Capital's brand and market positioning. Mubadala can now tap TWG's deep US network across finance, sports, AI, and energy to exploit new opportunities.' Thomas Tull, whose CV includes being the producer of movies such as Superman Returns, The Dark Knight and Inception, added: 'Partnering with Mubadala Capital enables us to access outstanding investment opportunities that demand both visionary insight and substantial resources. This collaboration unites the right expertise and capital to invest in ideas with the potential to shape the future.' Mubadala Capital is the alternative asset management subsidiary of Mubadala Investment Company, the US$330 billion global investor and the sovereign wealth fund of Abu Dhabi. Through its four investment businesses, including private equity, special situations, solutions, and venture capital, Mubadala Capital manages over US$30 billion of assets.
Zawya
01-05-2025
- Business
- Zawya
UAE's Mubadala Capital targets sporting assets with $10bln TWG investment deal
The Abu Dhabi sovereign-backed Mubadala Capital is training its sights on investing in sporting assets through a new multi-billion-dollar deal with TWG Global, which will see the UAE asset manager anchor and lead a $10 billion syndicated investment in the US holding company. Sovereign fund tracker Global SWF called the partnership 'a new chapter in global finance' in its news blog, where a private investment firm like TWG was also acquiring a minority stake in a sovereign wealth fund's asset management platform for $2.5 billion, with the aim to increase commitments to another $20 billion of investment capital. TWG's asset portfolio includes brands such as the LA Dodgers, LA Lakers and the Chelsea FC. 'This partnership gives Mubadala indirect ownership exposure to iconic Western sports franchises - a savvy move - amid the rising valuation of global sports assets and the convergence of content, fan engagement, and streaming monetisation,' Global SWF said. 'Through TWG, Mubadala is gaining the sports and leisure exposure that its Saudi peer, the Public Investment Fund (PIF), has had to build from scratch, originating its own direct investments.' Over the past few years, Saudi Arabia's $940 billion sovereign investment fund, PIF, has rapidly emerged as one of most influential sports investors in the world, with money riding on everything from golf, combat sports, to esports and tennis. But the Mubadala Capital-TWG deal calls for a possible shift in the power dynamics that could change the future of the sporting arena, the fund tracker said. 'What's especially compelling is the sectoral overlap between the two entities with TWG Global bringing a portfolio rich in sports franchises, such as the LA Dodgers, Lakers, and Chelsea FC, as well as stakes in Guggenheim Investments and Palantir-related AI ventures. Mubadala Capital, for its part, has been actively acquiring sports media assets and mid-market entertainment companies through its MIC Capital Partners funds,' Global SWF added. In a joint statement, Mubadala Capital and TWG said the deal comes 'amid increasing investor interest in a wide variety of alternative asset classes and cross-border investment opportunities.' Mubadala Capital, a subsidiary of Mubadala Investment Company, manages over $30 billion of assets through its four investment businesses, including private equity, special situations, solutions, and venture capital. According to Global SWF, what makes this partnership even more compelling is TWG's acquisition of a minority stake in Mubadala Capital, signalling a 'reversal of roles' that have previously seen sovereign wealth funds act as limited partners (LPs) in private equity funds, whereby allocating capital to funds managed by groups such as BlackRock, Ardian, or KKR. 'In most previous cases, Mubadala Capital functioned as a GP (general partner) raising capital from LPs like US pensions or sovereign peers, while retaining 100% ownership under its parent, Mubadala Investment Company. TWG's entry as an equity partner in the manager upends that structure,' Global SWF said. 'This structure could be the start of a trend. Sovereign wealth funds are sitting on vast pools of capital but increasingly want to earn fees on top of returns. Mubadala was the first SWF to manage capital for external investors. Now, with TWG's investment, it's also demonstrating that SWFs themselves can become investable businesses.' (Writing by Bindu Rai, editing by Seban Scaria)
