Abu Dhabi's Mubadala Plans to Invest $1 Billion a Year in Brazil.

(Bloomberg) -- Mubadala Capital, the investment arm of Abu Dhabi's sovereign wealth fund, is bullish on Brazil's growth prospects under President Luiz Inacio Lula da Silva and plans to invest more than $1 billion a year to expand its holdings in the country that range from an oil refinery to a toll road. Mubadala Capital and Petrobras recently signed an agreement to look into a biofuels unit at the Mataripe refinery for renewable diesel and aviation fuel, which could become one of the biggest renewable fuel producers on the planet, Fahlgren said. The firm just closed a second Brazil-specific fund with more than $710 million, more than double its first fund, and it should start raising capital for an even larger fund in 2024, Fahlgren said. [Extracted from the article]