{"id":89456,"date":"2024-02-27T00:00:00","date_gmt":"2024-02-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/mubadala-%f0%9f%92%97-private-credit\/"},"modified":"2024-02-27T00:00:00","modified_gmt":"2024-02-27T00:00:00","slug":"mubadala-%f0%9f%92%97-private-credit","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/02\/27\/mubadala-%f0%9f%92%97-private-credit\/","title":{"rendered":"Mubadala ? private credit"},"content":{"rendered":"

Sovereign wealth fund <\/strong>Mubadala<\/strong> and <\/strong>Goldman Sachs<\/strong> will co-invest USD 1 bn in private <\/strong>credit in the Asia-Pacific region<\/strong>,according to a statement<\/a>. The partnership will see the two deploy long-term capital to \u201chigh quality companies and sponsors\u201d throughout the region, with a particular focus on India, the statement said. <\/p>\n

How it will work:<\/strong> Goldman Sachs Alternatives\u2019 private credit division will manage the fund and use its on-the-ground teams across Asia Pacific markets to scour for potential clients. <\/p>\n

Background: <\/strong>Goldman Sachs inaugurated<\/a> an office in the Abu Dhabi Global Market<\/a> in May 2023. The US lender\u2019s Abu Dhabi division is tasked with asset management, while its Dubai branch houses investment bankers.<\/p>\n

It\u2019s not Mubadala\u2019s first foray into private credit: <\/strong>Mubadala set up a USD 2.5 bn JV with<\/a>Alpha Dhabi<\/a> to co-invest in global credit last year. In November 2023<\/a>, the wealth fund took on the role of anchor investor<\/a> for a private credit fund set up by Starz Real Estate and targeting European property. The sovereign investor also earmarked USD 1 bn each to alternative asset manager Blue Owl Capital\u2019s technology lending strategy<\/a> to finance tech and software companies, and its newly established JV with Ares Management<\/a>. <\/p>\n

It\u2019s not just Mubadala: <\/strong>The Abu Dhabi Investment Authority also ventured into private credit in September, backing a USD 5 bn fund<\/a> launched by Wells Fargo alongside asset manager Centerbridge and making a USD 932 mn investment<\/a> in Australian real estate private credit company Qualitas Diversified Credit Investments. The asset class is expected to balloon to USD 2.3 tn in size by 2027, according to Morgan Stanley<\/a>. <\/p>\n

REMEMBER- <\/strong>Mubadala plans<\/a> to more than double its assets in Asia \u2014 including India \u2014 to 25% from the 12% currently under the fund\u2019s management, head of Mubadala\u2019s life sciences and healthcare division Camilla Macapili Languille told Bloomberg<\/a> earlier.<\/p>\n","protected":false},"excerpt":{"rendered":"

The investors will focus on deploying \u201clong-term\u201d capital in countries in the Asia Pacific, with a focus on India<\/p>\n","protected":false},"author":1,"featured_media":89457,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1557],"tags":[7,315,25,1343,951,186],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam-uae","tag-goldman-sachs","tag-investment-watch","tag-mubadala","tag-private-credit","tag-sovereign-wealth-funds","wpautop","entry"],"acf":{"mongo_id":"42cb5948-afc5-4bb0-b1cf-4b5305d243ac","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2193.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Mubadala, Goldman Sachs to invest USD 1 bn in private credit in Asia Pacific region","related_issue":[89452],"teaser":"The investors will focus on deploying \u201clong-term\u201d capital in countries in the Asia Pacific, with a focus on India","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.8a126b07-2585-423d-b391-62d30d8b28d8.mp3"},"yoast_head":"\nMubadala ? 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