Abu Dhabi-based Mubadala Investment Company acquired a minority stake in the general partner of Phoenician Capital, a New York-based investment management company.
The investment was made through Mubadala Capital, Mubadala’s financial investment arm. The partnership includes an agreement for Mubadala Capital to invest in a fund managed by Phoenician Capital.
“Phoenician Capital has built a strong international reputation for its value investing strategies, based on a consistent track record of delivering attractive risk-adjusted returns,” said Maxime Franzetti, head of public investments for Mubadala Capital.
John Khabbaz, Phoenician Capital’s managing partner, began developing his value-oriented investment strategy in 2006 while attending Columbia Business School. He has since built an investment firm that invests in global value-oriented, high growth companies. In 2016 and 2017, Phoenician generated net returns of 40.8 percent and 33 percent respectively, versus 12 percent and 21.8 percent for the S&P 500 TR.
“We are honoured to partner with Mubadala as Phoenician expands its institutional base and enters its next phase of growth,” Khabbaz commented. "Our goal remains to invest wisely and create value for our investors.”