Mubadala Investment Company and Alpha Dhabi Holding’s private credit JV acquired a USD 600 mn Apollo Global-managed European direct lending portfolio, according to a press release (pdf). The transaction pushes the JV’s assets to USD 1.6 bn in assets across 39 obligors, up from USD 1 bn as of 9M 2025.

The details: The portfolio provides new positions in consumer services and goods, as well as exposure in healthcare, high technology, business services, and financial services.

REMEMBER- Established in 2023, the JV is targeting USD 2.5 bn in private credit investments by 2028, using Mubadala’s partnership with Apollo Global Management to find borrowers for the platform. Mubadala holds an 80% majority stake in the JV, with Alpha Dhabi owning the remaining 20%.

The move comes as the Gulf steps up its private credit exposure, with the region expected to become a dominant player in private assets and private credit over the next five years, Monroe Capital CEO Ted Koenig tells Asharq Business (watch: runtime: 1:39). The region’s younger demographic profile gives pension and institutional investors longer compounding horizons, making its private credit market increasingly attractive. The asset class can deliver “double-digit returns” that “rival private equity,” he said, positioning it as a growing component of long-dated portfolios, particularly as liquidity builds and demand for yield stays high.

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