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ABU DHABI / Agencies
Mubadala Investment Company has acquired a minority stake in the general partner of Phoenician Capital, a New York-based investment management company.
The investment was made through Mubadala Capital, Mubadala’s financial investment arm. The partnership includes an agreement for Mubadala Capital to invest in a fund managed by Phoenician Capital.
“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,†said Maxime Franzetti, Head of Public Investments for Mubadala Capital.
John Khabbaz, Phoenician Capital’s managing partner, began developing his value-oriented investment strategy in 2006 while attending Columbia Business School. He has since built an investment firm that invests in global value-oriented, high growth companies. In 2016 and 2017, Phoenician generated net returns of 40.8% and 33.0%, respectively, versus 12.0% and 21.8% for the S&P 500 TR.
“We are honoured to partner with Mubadala as Phoenician expands its institutional base and enters its next phase of growth,†Khabbaz commented. “Our goal remains to invest wisely and create value for our investors.â€
Mubadala is a pioneering global investor, deploying capital with integrity and ingenuity to accelerate economic growth for the long-term benefit of Abu Dhabi. As the emirate’s leading strategic investment company, Mubadala is active in 13 sectors and more than 30 countries around the world, creating lasting value for its shareholder, the Government of Abu Dhabi.
The company’s work includes the
development of global industrial champions in sectors such as aerospace, ICT, semiconductors, metals & mining, renewable energy and utilities, and the management of diverse financial holdings. It build on legacy expertise in oil and gas to invest across the hydrocarbon spectrum, and enhance the UAE’s growth potential through investments in healthcare, real estate and defense services. Its investment approach prioritises partnership with best-in-class organisations and a commitment to the highest standards of governance.