Mubadala Capital Chases ‘Complexity’ Post Clear Channel Deal (1)

Mubadala Capital is embracing a more aggressive stance on dealmaking, wading into complicated transactions shunned by the titans of private equity and participating in multibillion-dollar buyouts that many other sovereign investors typically avoid.

The alternative asset management arm of wealth fund Mubadala Investment Co. this week agreed to buy billboard firm Clear Channel Outdoor Holdings Inc. and pledged to commit $3 billion of new equity to the business. A top executive said the fund will continue to seek out such transactions.

“We’re looking for large, complex deals, where we can unlock the complexity and generate alpha for our investors,” ...