Bpifrance closes first stage of Mubadala-backed LAC 1 fund after raising €4.2bn – The National

Bpifrance closes first stage of Mubadala-backed LAC 1 fund after raising €4.2bn – The National

Abu Dhabi's Mubadala Investment Company contributed €1bn to the fund





























French national investment bank Bpifrance closed the first stage of "LAC 1“ fund after raising 4.2 billion euros . AP Photo





















July 22, 2020



July 22, 2020













French national investment bank Bpifrance closed the first stage of its LAC 1 fund after raising €4.2 billion (Dh17.8bn) from private and sovereign investors including Abu Dhabi's Mubadala Investment Company, which contributed €1bn to the fund.



"With a current investment capacity close to €4.2bn, including over €3.2bn raised from investors and €1bn of debt, this fund invests in French-listed multinationals, leveraging on Bpifrance's knowledge of the technological transitions and on its strong expertise in the governance of listed companies,“ the investment bank said.



"The successful closing of LAC 1 fund underpins the attractiveness of France for investors and sovereign wealth funds from the Middle East.“



The fund was set up to invest significant long-term capital in leading French companies with the objective of supporting their strategic plans and maximising value creation. Its target was to raise