Alamy
A joint venture between Mubadala Investment Company, one of Abu Dhabi’s sovereign wealth funds, and the holding company Alpha Dhabi Holding has raised its target for deploying funds into private credit by 150 percent.
The joint venture said it wanted to invest up to $2.5 billion in credit by 2028, after reaching $1 billion since inception in 2023.
The joint venture, which is based in the Abu Dhabi Global Market, a financial free zone in the UAE capital, is 80 percent owned by Mubadala, while Alpha Dhabi owns the remaining 20 percent.
It uses Mubadala’s partnership with Apollo, a New York Stock Exchange-listed alternative asset manager, to access private credit and seeks to invest in sectors and geographies offering high risk-adjusted returns, Mubadala Investment Company and Alpha Dhabi Holding said in a statement.
Mubadala launched its credit unit in 2009, putting money into middle-market and large-cap companies globally.
In October 2024 Ted Koenig, CEO of the US asset manager Monroe Capital, said private credit has yet to take off in the Middle East but will become the “hottest asset class” in the region.
