BlackRock, on behalf of its own investors and alongside other undisclosed institutional investors, committed $1.1 billion to private equity strategies.
The investment includes a $400 million commitment to Mubadala Capital's latest private equity fund, Private Equity Fund III, a BlackRock spokeswoman said. The size of BlackRock's investment was not disclosed.
The fund closed at $1.6 billion.
Mubadala Capital has about $9 billion in assets under management in third-party managed funds in its private equity, public equity and venture capital.
Mubadala Capital is the investment arm of the United Arab Emirates' sovereign wealth fund Mubadala Investment Co., which has $243 billion in assets.
Additionally, BlackRock, together with the same group of investors, invested $700 million in a private equity portfolio managed by Mubadala Capital. BlackRock's investment, the size of which was also undisclosed, was made from its secondaries and liquidity solutions group's strategy, which runs $3 billion in assets.
Veena Isaac, managing director of the BlackRock's secondaries and liquidity solutions team, said in a news release Wednesday that the firm looks forward "to being a limited partner and continuing to explore further ways to collaborate with Mubadala Capital in what is clearly a highly differentiated investment platform that has demonstrated an ability to leverage its sovereign access and network for the benefit of its investors."
