Mubadala Agrees to Commit to LAC Fund Managed by Bpifrance

Posted on 02/24/2020


French Minister of the Economy and Finance Bruno Le Maire met with officials from Mubadala Investment Company. Mubadala signed a Memorandum of Understanding (MoU) with Bpifrance, the French national investment bank. The MoU entails Mubadala committing €1 billion capital 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 industry-leading corporations over the next decade.

Waleed Al Mokarrab Al Muhairi, CEO of Mubadala’s Alternative Investments and Infrastructure Platform and Mubadala’s Deputy Group CEO, commented in a press release, “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.”

Mubadala and Bpifrance are no strangers. In 2017, both parties formed 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.