UAE – Mubasher: Mubadala Investment Company has signed a memorandum of understanding (MoU) with the French national investment bank Bpifrance, in a way of committing to the LAC I Fund, a multibillion fund managed by Bpifrance.

Mubadala, the UAE leading sovereign wealth fund, noted that with the goal of raising EUR 10 billion, LAC I Fund plans to invest in nearly 15 listed companies taken from a large pool of French world leading corporations during the coming ten years.

Commenting on the new agreement, Mubadala’s deputy group CEO and the CEO of Mubadala’s alternative investments and infrastructure platform, Waleed Al Mokarrab Al Muhairi, commented: “As a global investor, Mubadala continues to deploy capital across markets and sectors as part of a highly-diversified and growing portfolio of assets.”

Meanwhile, the CEO of Bpifrance, Nicolas Dufourcq, said: “Over the coming years, we anticipate that an even wider range of dynamic French companies will require capital to catalyse 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.”