The state wealth fund said its investment in IVC Evidensia aligns well with its focus on investing in market-leading consumer companies in resilient and growing sectors
Abu Dhabi’s sovereign investor Mubadala announced on Sunday that it has invested $ 497 million in IVC Evidensia, Europe’s largest veterinary services company.
The state-owned wealth fund, which manages a global portfolio of $ 243.4 billion across multiple sectors and asset classes, said its investment in IVC Evidensia aligns well with its focus on investing in market-leading consumer companies in resilient and growing sectors.
Justin Sabet-Peyman, Head of Consumer at Mubadala, said the government fund is excited to partner with EQT, Silver Lake, Nestlé and IVC’s world-class management team to drive the company’s continued leadership and innovation in pet care. “
IVC Evidensia is headquartered in Bristol, UK and operates a network of more than 1,500 veterinary clinics and hospitals in 12 countries across Europe serving over four million pets. Founded in 2011, the company operates a decentralized model that encourages innovation and clinical freedom within its network, supported by a range of integrated services such as procurement, veterinary advisors and clinical boards.
Mubadala’s investment in IVC Evidensia complements its growing global portfolio of world-class consumer companies, including Reliance Retail Ventures Limited, Coupang and Truck Hero. Within the consumer sector, Mubadala focuses on investing in companies led by strong management teams with leadership positions in attractive markets with strong tailwinds.
Mubadala assets under management (AUM) reached Dh894 billion in 2020 compared to Dh853 billion in 2019. Last year Mubadala invested Dh 108 billion in capital in various sectors. These included Dh4.3 billion in Jio, a leading Indian telecommunications company owned by Reliance Industries; $ 2.7 billion in Silver Lake, a leading global technology investor; Dh3.0 billion in Reliance Retail, one of the fastest growing consumer companies in India; 2.2 billion Dh to PCI Pharma, one of the world’s leading providers of pharmaceutical services; and Dh 7.5 billion through partnerships with CVC, Citadel, iSquared Capital and Apax Partners.
According to the 2020 report, 34 percent of the portfolio consists of direct and indirect investments in private equity, 29 percent in public markets and 14 percent in real estate and infrastructure
IVC Evidensia is well known for setting new standards for both clinical excellence and the wellbeing of staff in its sector. IVC was originally acquired by EQT Private Equity in December 2016 and merged with Evidensia, the Swedish veterinary company, in May 2017. Since then, the company has further strengthened its position as Europe’s leading veterinary service provider through strong organic growth and strategic acquisitions.