Alpha Dhabi Holding will double its capital commitment to its private credit joint venture with Mubadala Capital to $1 billion and increase its ownership stake to 40 per cent from 20 per cent, the Abu Dhabi-listed investment company said on Monday.
The expanded investment in Micad Credit JV, which is managed by Mubadala Capital, comes as Alpha Dhabi broadens the venture’s mandate to include additional global private credit strategies alongside its existing US and European direct lending activities.
The joint venture manages about $1.7 billion in assets across 45 portfolio companies.
Hamad Salem Al Ameri, Group CEO and Managing Director of Alpha Dhabi, said the company sees private credit as a key part of its investment portfolio.
“This expanded partnership with Mubadala Capital reflects our conviction in private credit as a strategic pillar of Alpha Dhabi’s investment portfolio,” Al Ameri said.
“Doubling our commitment and broadening our mandate is a deliberate step, one that positions us to access a wider universe of high-quality global opportunities.”
The increased stake gives Alpha Dhabi a larger share of the joint venture while also expanding the range of private credit strategies it can access through Mubadala Capital’s relationships.
Omar Eraiqat, President and Chief Investment Officer, Credit and Solutions at Mubadala Capital, said the expanded partnership reflected the firms’ approach to developing investment platforms with institutional partners.
“As our Credit business continues to grow, we remain focused on expanding access to differentiated private credit opportunities through our investment capabilities and long-term global relationships in the sector,” Eraiqat said.
Dh9.8 billion quarterly profit
The announcement comes after Alpha Dhabi reported a quarterly profit of Dh9.8 billion, with investments including SpaceX and Anthropic contributing to its second-quarter results.
Alpha Dhabi has more than 250 businesses across sectors including healthcare, renewable energy, petrochemicals, real estate, construction and hospitality.
Its portfolio companies operate across more than 45 countries and employ more than 95,000 people, according to the company.
Mubadala Capital, the global alternative asset management arm of Mubadala Investment Company, manages and advises on more than $60 billion in assets through its wholly owned alternative investment businesses, spanning private equity, credit, venture capital, secondaries and other strategies.
Source: Khaleej Times