Abu Dhabi state investment fund Mubadala MUDEV.UL will invest $2 billion in Brazilian billionaire Eike Batista's EBX Group, it said on Monday, one of its biggest forays into Latin America.
Mubadala, which has stakes in General Electric (GE.N) and private equity firm Carlyle CYL.UL, said it would make the investment in exchange for a 5.63 percent preferred equity interest in the Centennial Asset Brazilian Equity Fund.
"This... transaction marks our first significant direct investment into one of the fastest growing markets and is an important step in Mubadala's development of strategic opportunities in Brazil and Latin America," Khaldoon al-Mubarak, Mubadala's chief executive and managing director, said in a statement.
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