The Mubadala Investment Company, the UAE sovereign fund, and Alpha Abu Dhabi Holding Company have concluded an agreement to establish a joint venture with the aim of investing in private credit opportunities.
According to Arabiya.net, the two companies will invest about 9 billion dirhams ($2.5 billion) in that project.
The two companies said in a joint statement that they intend to leverage Mubadala's relationship with US firm Apollo Asset Management to invest in high-quality private credit opportunities.
The statement added that Mubadala's share will be 80% of the joint venture, which will be based in the Abu Dhabi Global Market, which is the emirate's financial free zone, while Alfa Abu Dhabi's share will be 20%.
