The asset management arm of UAE’s investor Mubadala Investment Co PJSC has acquired control of two for-profit medical universities in Brazil, it said in a statement.
Mubadala was established in 1984, International Petroleum Investment Company (IPIC) was created to advance Abu Dhabi’s natural petroleum wealth for the development of the emirate. Mubadala Development Company followed in 2002 to further diversify the economy. Both swiftly flourished into active worldwide investors across multiple sectors. Today, Mubadala Investment Company operates across a diverse portfolio spanning more than 50 countries globally, continuing the vision of our founding father.
UAE’s state investor Mubadala Investment Co PJSC has acquired control of two for-profit medical universities in Brazil, the investor said in a statement. Mubadala acquired from the for-profit education group Rede UniFTC two medical schools in the northeastern state of Bahia that have around 2,000 students. In 2021, total UAE assets in Brazil surpassed $10bn, while 30 Brazilian companies operated in the UAE. Brazil also plans to double the value of its bilateral trade with the UAE to $5.6bn in the next five years.
Mubadala Capital, the asset management subsidiary of UAE-based Mubadala Investment Company (Mubadala), has closed its first fund in Brazil, Brazil Special Opportunities Fund I (BSOF I), with total commitments of $322m. The Abu Dhabi-headquartered Mubadala Capital manages over $10bn of assets in third-party managed funds across its Brazil, private equity, public equities, and venture capital businesses, and Mubadala was reportedly the first sovereign wealth fund to manage third-party capital on behalf of other institutional investors.
The value of the deal was not disclosed. Thiago Sayao, former president of Adtalem Global Education’s unit in Brazil, will be CEO of a new company holding the medical schools.
