TWG Global, a holding company led by US billionaires Mark Walter and Thomas Tull, announced on Tuesday it will acquire a minority stake in Mubadala Capital, the Abu Dhabi investment company's asset management subsidiary.
Under this investment alliance, TWG is committing $2.5 billion to Mubadala Capital, which the Abu Dhabi company will anchor and lead to a $10 billion syndicated investment in TWG Capital, the companies said in a statement. That is part of TWG's $15 billion equity raise, they said.
Proceeds will be used by TWG to identify investment opportunities.
“By combining our institutional expertise and capital resources through this unique alignment of interests, we are strengthening our joint abilities to access and scale high-quality investment opportunities globally,” Hani Barhoush, managing director and chief executive of Mubadala Capital, said in a statement.
TWG and its partners will also commit an additional $20 billion of investment capital over time to reinforce the long-term and strategic alignment between the two companies.
"We are excited to deepen our relationship with Mubadala Capital, a global leader that shares our long-term investment philosophy and our commitment to excellence. The convergence of business and new technology is creating unprecedented investment opportunities,” TWG founder Mark Walter said.
TWG Global's portfolio includes Guggenheim Investments, Guggenheim Securities and sport franchises including Chelsea FC, the Los Angeles Lakers and Los Angeles Dodgers.
Wednesday's announcement comes as both companies have made ventures into artificial intelligence. TWG Global in March announced a joint venture with Palantir Technologies to redefine artificial intelligence deployment in financial services. Meanwhile Mubadala is a founding partner of MGX, a technology fund that is an initial equity partner in an $100 billion AI joint venture project hailed by President Donald Trump.
The UAE has made other commitments to the US since Mr Trump's 2024 election win, including a planned $20 billion investment by Damac in US data centres and a $1.4 trillion investment framework related to AI infrastructure and more.
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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What drives subscription retailing?
Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.
The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.
The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.
The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.
UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.
That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.
Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.
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