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Mubadala and The Carlyle Group Strengthen Strategic Relationship; Mubadala Agrees to Increase Stake in Carlyle General Partnership

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According to the Carlyle Group’s press release, “Mubadala Development Company, the Abu Dhabi-based strategic development and investment company, and The Carlyle Group, a global alternative asset manager, today announced an agreement for Mubadala to make an additional investment in the Carlyle general partnership. In exchange for the $500 million investment, Mubadala will receive from Carlyle a combination of convertible subordinated notes and additional equity in the Carlyle general partnership. Among other things, the investment proceeds will be used to expand product lines and offerings to Carlyle’s investors. Additional financial details were not disclosed.

In September 2007, Carlyle sold a 7.5 percent stake in its general partnership to Mubadala.

Mubadala Chief Executive Officer Khaldoon Al Mubarak said, “This additional investment in Carlyle underscores the importance of the strategic partnership to Mubadala. Since the initial investment in 2007, our two firms have collaborated across a number of industry sectors. We are confident in Carlyle’s ongoing success as a global alternative asset manager and are pleased to support their strategic initiatives, including product and geographic expansion.”

Carlyle Co-Founder and Managing Director David M. Rubenstein said, “Our partnership with Mubadala continues to strengthen as we collaborate on investment opportunities and share sector and regional economic insights. We are proud to deepen our relationship with Mubadala.”

The partnership has also included growing cooperation on identifying investment opportunities in the Middle East and North Africa as well as increasing collaboration in industry verticals such as healthcare, aerospace and technology.

Goldman Sachs served as exclusive financial advisor to Mubadala on this transaction. Citi and J.P. Morgan Securities LLC served as financial advisors to The Carlyle Group.”

Source: The Carlyle Group’s Press Release

Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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