Abu Dhabi’s sovereign wealth is doubling down on US investments. This time betting on out-of-home advertising.
Mubadala Capital, in partnership with TWG Global, agreed to buy Clear Channel Outdoor Holdings in all-cash deal, giving the billboard company an enterprise value of $6.2 billion. The offer of $2.43 per share is expected to close by the end of the third quarter.
This marks another collaboration between Mubadala Capital and TWG. Last year, the Abu Dhabi asset manager anchored a $10 billion syndicated investment in TWG’s $15 billion equity raise. Under that arrangement, TWG committed $2.5 billion to Mubadala Capital and took a minority stake in the firm.
Abu Dhabi-linked funds have recently made a string of high-profile moves in the US. Earlier this year, an investor group including MGX, backed by Mubadala Investment Co. and AI firm G42, acquired a stake in TikTok’s US operations. Separately, L’Imad Holding Co., another Abu Dhabi sovereign investor, is among the backers of Paramount Skydance in its high-stakes bid for Warner Bros. Discovery Inc.
More details:
- Equity financing for the Clear Channel deal will be provided by Mubadala Capital in partnership with TWG.
- Apollo-managed funds have committed preferred equity, while debt financing comes from a group led by JPMorgan and Apollo.
- Morgan Stanley and Moelis & Co. are financial advisors to Clear Channel.
- Guggenheim Securities and JPMorgan are financial advisors to Mubadala Capital.
About Mubadala Capital:
- The alternative asset management subsidiary of Mubadala Investment Co., Mubadala Capital manages, advises, and administers over $430 billion in assets. Click here for its portfolio.
📌 Why it matters: The Clear Channel acquisition signals Mubadala’s strategic pivot into US media and out-of-home advertising. It also underscores a broader trend of Gulf sovereign funds targeting stable, growth-oriented media assets.
📌 Bottom line: With a growing footprint in US media and entertainment, Abu Dhabi’s Mubadala is cementing its position as a key international investor, betting on long-term growth in advertising, digital, and content sectors.
