Abu Dhabi state fund Mubadala Investment Co and the UAE-based conglomerate Alpha Dhabi plan to deploy up to 9 billion dirhams ($2.5 billion) in credit markets through a new joint venture, the companies said on Thursday.
The two companies plan to leverage on Mubadala’s relationship with U.S. asset manager Apollo “to access high-quality private credit investment opportunities”, they said in a joint statement with Apollo.
Mubadala will own 80% of the venture, which will be based in Abu Dhabi Global Market, the emirate’s financial freezone. The remaining 20% will be held by Alpha Dhabi, the statement said.
Reuters