AbuDhabi's Mubadala, Alpha Dhabi to enter credit markets via new venture | Reuters
Abu Dhabi state fund Mubadala Investment Co and UAE-based conglomerate Alpha Dhabi (ALPHADHABI.AD) 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 (APO.N) "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.
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