Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, and Goldman Sachs have announced a $1 billion partnership aimed at pursuing private credit opportunities in Asia. The agreement focuses on investing in private credit deals across the Asia Pacific region, particularly in India. Managed by Goldman Sachs Alternatives’ Private Credit division, the partnership will deploy a dedicated team across various Asia Pacific markets.
Mubadala has been expanding its presence in private credit markets through strategic partnerships, capitalizing on distressed debt opportunities amidst a high-interest-rate environment. With the private credit market witnessing growth since the 2008 financial crisis, sovereign wealth funds in the Gulf, including Mubadala, with its $300 billion portfolio, are increasingly drawn to this sector. Last year, Mubadala formed a joint venture with Ares to invest in global credit markets, starting with a $1 billion target. Additionally, it committed another $1 billion to Blue Owl Capital’s credit platform, focusing on financing technology companies.
Having invested in private debt since 2009, primarily in North America and Europe, Mubadala has recently intensified its focus on the Asia Pacific region. This strategic shift aligns with the firm’s CEO’s vision to pivot towards Asia, emphasizing the region’s growing importance in its investment strategy.
