Mubadala and France's CDC float Dh1.5bn fund

Abu Dhabi state-owned investment fund Mubadala Development and France's CDC International Capital on Tuesday launched a 300 million euro ($413 million; Dh1.5 billion) investment vehicle to invest in a wide range of sectors in France.

The investments will mainly target equity stakes in private companies as well as other asset classes including real estate or infrastructure, a statement from Mubadala said.

Both companies have agreed to commit 150 million euros each for joint investments to be managed by senior executives from the companies.

CDC is a wholly owned investment arm of France's state-owned Caisse des Depots group dedicated to long-term investments with large institutional investors and sovereign wealth funds.

Mubadala, which has stakes in General Electric and private equity firm Carlyle plans to focus more on US and European markets this year as those economies recover slowly.

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