Abu Dhabi – Mubasher: Alpha Dhabi Holding and Mubadala Investment Company established a joint venture (JV) to co-invest in global credit opportunities, according to a press release.
The two UAE-based firms plan to collectively endorse up to AED 9 billion, which is equivalent to around $2.50 billion, over the coming five years.
Furthermore, Alpha Dhabi and Mubadala will utilise the latter’s long-term and strategic partnership with Apollo to access enhanced private credit investment opportunities.
Under the agreement, Mubadala will hold 80% equity in the Abu Dhabi Global Market-based JV entity, while Alpha Dhabi will own the remaining 20% stake.
Hamad Salem Al Ameri, CEO and Managing Director of Alpha Dhabi, commented: “We have continued to assess the private credit market asset class recently with a keen interest, particularly given the current global market environment.”
Al Ameri indicated: “The asset class provides further diversification to our portfolio and attractive risk adjusted returns.”
Hani Barhoush, CEO of Disruptive Investments at Mubadala, said: “By leveraging our strong existing relationship with Apollo, and combining Mubadala and Alpha Dhabi’s investment expertise and capital, we have created a powerful platform to access investment opportunities around the world while driving synergies across Abu Dhabi’s ecosystem.”
In the first nine months (9M) of 2022, Alpha Dhabi generated net profits attributable to the shareholders worth AED 6.79 billion, a hike from AED 2.15 billion in 9M-21.
