Mubadala Capital to Acquire Minority Stake in LSV, Which Manages $5 Billion
Key Facts
Mubadala Capital and LSV Advisors announced a definitive agreement on November 10, 2026, under which Mubadala will acquire a minority stake in LSV, according to a joint statement published by the companies via Business Wire. LSV manages about $5 billion in assets and investment commitments, the statement said. The parties did not disclose the financial terms of the deal. The partnership gives Mubadala a presence in a firm specializing in middle-market, GP-led secondary investments. The deal is expected to close in the first half of 2027, subject to customary regulatory approvals.
LSV is headquartered in New York and focuses on single-asset continuation vehicle transactions led by middle-market general partners. Continuation vehicles are used in this type of deal within the secondary investment market, according to the company’s description of its business. Mubadala’s entry places the firm within its strategic partnerships platform, which already includes private wealth management, insurance, credit and real estate. The statement said the investment adds a manager specializing in GP-led secondary investments to the platform. The deal is therefore tied to a specific activity within the fund market, while the parties have not disclosed the stake’s value or the investment size.
LSV was founded in 2005, and the companies said it has completed more than 75 transactions since executing one of the sector’s earliest GP-led investments in 2011. The track record reflects the company’s years of experience in GP-led continuation funds, according to the statement. The firm manages about $5 billion in assets and investment commitments, the figure cited in the announcement to describe the scale of its business. The statement did not break down that amount between assets and commitments. It also provided no figures on fund returns or investment performance.
LSV founder and Chief Executive David Tisch said, "Mubadala Capital’s global reach, institutional perspective and long-term investment approach make it an ideal partner." The company linked its choice of partner to Mubadala’s global institutional network and long-term capital to support LSV’s growth. LSV executives intend to reinvest the majority of the net proceeds from Mubadala’s investment in future funds, according to the statement. This means the largest portion of the net proceeds earmarked for reinvestment will go to the company’s upcoming funds. The announcement did not specify the value of the proceeds or the funds involved.
In advisory arrangements, Evercore is serving as exclusive financial adviser to Mubadala Capital, while Houlihan Lokey is serving in the same role for LSV, according to the statement. The announcement said only that Houlihan Lokey was appointed the company’s exclusive financial adviser on the deal. The statement provided no estimate of the expected financial impact of the engagement on the firm’s revenue. The transaction process is expected to continue through the first half of 2027, with closing remaining subject to customary regulatory approvals. The parties did not announce a more precise closing date.