Home Industry Finance McLaren gets $760m from investors including Saudi wealth fund PIF McLaren, controlled by Bahrain’s Mumtalakat, has been hit by the pandemic by Bloomberg July 19, 2021 McLaren Group obtained $760m in funding from investors including Saudi Arabia’s sovereign wealth fund as the supercar maker and racing team owner tries to recover from the impact of the coronavirus pandemic. Funds managed by Ares Management and Saudi Arabia’s Public Investment Fund have committed to invest 400m pounds ($550m) in the form of preference shares and equity warrants. Existing shareholders, including sovereign wealth fund Mumtalakat and a limited number of new private investors, are set to invest 150m pounds in the form of convertible preference shares. McLaren, controlled by Bahrain’s Mumtalakat, has been hit by the pandemic that has delayed the Formula 1 racing series and forced it to halt automotive production. The closely held British supercar maker in April sold and leased back its headquarters in Woking, near London, and agreed to sell as much as a third of its racing unit to a consortium of US-based investors. Goldman Sachs Group and HSBC Holdings advised McLaren on the transaction. Tags Auto Bahrain Investment Luxury mclaren Mumtalakat Saudi Arabia 0 Comments You might also like Egypt’s sovereign dollar bonds fall, reversing gains on Saudi visit PIF-backed Lucid says stock sale will provide ‘cash runway’ well into 2026 Saudi Arabia’s PIF sets up company to build staff accommodation Saudi Arabia’s United International Holding to sell 30% stake via IPO