GLOBAL - Mubadala buys 7.5% Carlyle stake for $1.35bn

Mubadala Development Company has bought a 7.5% stake in The Carlyle Group for $1.35bn in cash. The deal represents a 10% liquidity discount to the $20bn firm valuation that was agreed by both parties. The minority investment includes no associated voting rights and is subject to value-related protective rights. Mubadala also committed $500m to an investment fund managed by Carlyle. Goldman Sachs advised Mubadala and Citigroup Global Markets advised Carlyle on the transaction, which is expected to close in October.