The deal aims to broaden Mubadala's investor base and strategies, with incoming shareholders expected to commit $5 billion across its investments.
The $109 billion Canadian pension fund joins Lunate-backed Axight as a minority shareholder after the latter acquired a 27% stake from Brookfield earlier this year.
The private debt specialist, which operates a dedicated secondaries strategy, has reportedly held talks with several international investors.
The passive minority investment will reportedly strengthen the Swiss private equity firm's balance sheet and support team expansion and alignment with LPs.
The investment in the Brazilian alternative asset manager will be made through a primary capital injection, with no existing partners selling their holdings.
A non-binding term sheet also gives O3 the option to increase its ownership in the Hungarian fund manager if AUM grows significantly.
Sterling is a mid-market private equity firm focused on the business services and distribution sectors.
The GP staker will support the Australian property investor's growth across distribution, product development, and institutionalization.
In addition to seed capital, the GP stakes firm will also provide support across talent acquisition, capital formation, and operations.
The minority stake, acquired from Brookfield's private equity business, values the Australian alts manager at $2.1 billion.
