Mubadala, Ares Partner On $1 Billion Private Credit Real Estate Fund - Bloomberg
Mubadala Investment Co. and Ares Management Corp. said they will partner with Aldar Properties on a $1 billion private credit fund to invest in real estate across the UK and Europe.
Mubadala will hold a 50% stake in the new platform, while Aldar will have a 30% holding, according to a statement. Ares will own the remaining 20% and it will provide an investment team to manage deal origination and monitor the portfolio.
“Mubadala has strong and strategic relationships with both Ares and Aldar, and this new platform leverages the collective strengths of each party to invest in the private real estate credit market in the United Kingdom and Europe,” Omar Eraiqaat, deputy chief executive officer of disruptive investments at Mubadala, said in the statement.
Aldar, an Abu Dhabi-based property developer, is also planning to invest $100 million into an existing strategy that Mubadala and Ares established in 2021. The firms now expect that strategy — which is known as the Ares European Real Estate Debt strategy — will be upsized to $2 billion over time. Including anticipated leverage, the total available capital for the strategy is expected exceed $5 billion.
No comments:
Post a Comment