Abu Dhabi – Mubasher: Mubadala Investment Company has bought a minority stake in Phoenician Capital, a New York-based investment management company, through Mubadala Capital, Mubadala’s financial investment unit.

Under the agreement, Mubadala Capital will invest in a fund managed by Phoenician Capital, the Emirati investment firm said in a statement on Monday. 

“Phoenician Capital has built a strong international reputation for its value investing strategies, based on a consistent track record of delivering attractive risk-adjusted returns,” Mubadala Capital’s head of public investments Maxime Franzetti commented.

The Abu Dhabi-based company did not reveal the deal's value. 

In March, a Brazilian newspaper reported that Mubadala Development Fund was on the verge of closing a $1.2 billion deal to acquire Brazil’s Queiroz Galvao Energia SA.

"We are honoured to partner with Mubadala as Phoenician expands its institutional base and enters its next phase of growth. Our goal remains to invest wisely and create value for our investors,” Phoenician Capital’s managing partner John Khabbaz said.