Abu Dhabi: Mubadala Investment Company and Alpha Dhabi Holding PJSC have announced that their joint venture, launched in 2023, has reached a significant milestone by building an approximate US$1 billion portfolio in global credit opportunities. This development is a crucial step toward the partnership's objective of deploying up to US$2.5 billion by 2028, highlighting its ongoing momentum and progress.
According to Emirates News Agency, the joint venture is based in Abu Dhabi Global Market and is primarily owned by Mubadala, with an 80% stake, while Alpha Dhabi holds the remaining 20%. The venture leverages Mubadala's strategic partnership with Apollo, one of the largest alternative asset managers globally, to access high-quality private credit investment opportunities. Since its inception, the partnership has been focused on identifying and capitalizing on credit opportunities in sectors and geographies that offer attractive risk-adjusted returns.
Hamad Salem Al Ameri, Managing Director and Group Chief Executive Officer of Alpha Dhabi Holding, emphasized the importance of the partnership, stating, "Alpha Dhabi's partnership with Mubadala and Apollo emphasizes our commitment to best-in-class long-term partnerships with leading investment managers. For us, gaining access to proprietary private credit opportunities enables us to generate superior risk-adjusted returns while diversifying our portfolio from an asset class and geographical perspective."
Omar Eraiqaat, Deputy CEO of Credit and Special Situations, also acknowledged the milestone, stating, "This is a significant milestone for our joint venture with Alpha Dhabi, which leverages our existing strategic relationship with Apollo. This achievement underscores the strength of the platform we have built, and our commitment to identifying and capitalizing on high-quality private credit investments. We look forward to continuing this momentum and reaching the goal of our partnership."
Apollo Partner Jim Vanek noted the importance of the collaboration, saying, "Alpha Dhabi and Mubadala are important long-term partners to Apollo. Leveraging our strength in global credit origination, we are pleased for the JV to reach this key milestone."
Mubadala's history in credit investments dates back to 2009, with its Credit Investments unit successfully navigating private markets through investments in middle-market and large-cap companies worldwide. Alpha Dhabi acknowledges that credit investing comes with vast opportunities and potential risks, and the Group continuously refines its approach to risks and prospects to ensure appropriate investment outcomes.
