TWG Global, Mubadala Capital Form Multibillion-Dollar Investment Alliance

TWG Global, led by Mark Walter and Thomas Tull, is acquiring a 5% minority stake in Mubadala Capital, the asset management arm of Abu Dhabi’s sovereign wealth fund, marking a rare shift where a private firm becomes an equity partner in a sovereign wealth fund’s investment platform. As part of this multi-billion-dollar alliance, TWG will invest $2.5 billion into Mubadala Capital-managed products, while Mubadala will anchor and lead a $10 billion syndicated investment in TWG’s $15 billion equity raise. The partnership signals a new era of reciprocity between private equity and sovereign wealth funds and is expected to expand into co-investments potentially reaching $20 billion across various sectors, including sports, financial services, and artificial intelligence. Both companies have demonstrated significant interest in AI, with TWG forming a joint venture with Palantir and Mubadala partnering in AI infrastructure ventures. The deal represents only the second time Mubadala Capital has allowed external ownership, underlining the strategic and long-term alignment between the two entities. This collaboration is set to broaden beyond AI, encompassing energy, financial services, and global sports franchises.