Abu Dhabi’s top sovereign wealth funds are making another significant move on the global stage, deploying substantial capital into a major private equity transaction. The Abu Dhabi Investment Authority (ADIA) and Mubadala Investment Company have together committed approximately $2 billion to support the Swedish private equity firm EQT in its acquisition of UK-based Intertek Group Plc.
Quick Facts
- Total Abu Dhabi Commitment: Around $2 billion combined.
- Total Deal Size: EQT’s acquisition of Intertek values at $12.3 billion.
- Target Company: UK-based testing and inspection giant Intertek.
The Capital Breakdown
According to regulatory filings, the investment from the two Abu Dhabi institutions forms a critical part of the financing for one of the largest takeovers of a UK-listed company this year. ADIA has committed $1.3 billion (£1 billion) to the deal, while Mubadala is contributing $664 million (£500 million).
The transaction will see Intertek, a major player in the testing, inspection, and certification industry, leave the London Stock Exchange. The company provides essential quality and safety services across sectors like consumer products, healthcare, and energy.
From Passive Investors to Active Dealmakers
This deal highlights a strategic shift for Gulf sovereign wealth funds. Instead of acting solely as limited partners in funds, institutions like ADIA and Mubadala are increasingly becoming direct financing partners in some of the world’s most significant private equity deals. Their participation provides buyout firms with the large-scale capital required for major acquisitions, especially as traditional fundraising environments become more competitive.
For Abu Dhabi, these partnerships secure access to high-profile international assets and build stronger ties with top-tier investment firms. This trend solidifies the Gulf’s growing power in global capital markets, with regional investors taking on more central roles in transactions historically led by North American and European institutions.
A Pattern of High-Profile Global Plays
The investment in the Intertek acquisition is consistent with the active global strategies of both funds. Mubadala, which manages around $385 billion in assets, was one of the most active sovereign investors in private equity transactions last year. Its private equity division has consistently noted the fund’s expanding role in global dealmaking.
ADIA, which oversees assets exceeding $1 trillion, has also maintained a brisk pace of international investments. The fund recently participated in CVC Capital Partners’ takeover of Italian pharmaceutical company Recordati, a deal valued at approximately $12.3 billion. These transactions demonstrate how Abu Dhabi’s investment giants are broadening their portfolios across healthcare, technology, private credit, and alternative assets.
About ADIA
The Abu Dhabi Investment Authority (ADIA) is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. It manages a global investment portfolio that is diversified across more than two dozen asset classes and sub-categories.
About Mubadala
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for its shareholder, the Government of Abu Dhabi. Mubadala’s portfolio spans six continents with interests in multiple sectors and asset classes.
Source: Waya
