Mubadala, Goldman Sachs enter a $1B private debt partnership for Asia-Pacific investments

UAE's Mubadala Investment Company and Goldman Sachs have partnered to invest $1 billion in private credit deals in Asia, with a focus on India.

The Abu Dhabi-based sovereign fund has signed a partnership to invest across the private credit spectrum and multiple Asia Pacific markets with Goldman Sachs Alternatives, its asset management arm, according to a statement shared on Zawya.

The fund, which has about $300 billion in assets under management, plans to double its exposure to Asia by 2030 through private credit, a method where companies can raise funds through tailored financing products from non-bank lenders.

"The diverse and rapidly growing economies, as well as the increasing private-equity deal volumes, are significantly driving demand in the Asia Pacific for customised credit solutions from non-traditional lenders," said Omar Eraiqat, Deputy CEO of Diversified Investments at Mubadala.

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Goldman Sachs Alternatives will manage the partnership, with a dedicated team across multiple Asia Pacific markets.

"India in particular stands out as a key market with significant opportunities in private credit and where Goldman Sachs has strong exposure and capabilities," said Fabrizio Bocciardi, Head of Credit Investments at Mubadala.

Founded in 2017, Mubadala manages a $284 billion portfolio worldwide on six continents mostly in North America and Europe. It has recently strengthened its exposure in the Asia Pacific and has offices in London, Moscow, New York, and Beijing.

In March 2023, Mubadala and Ares formed a joint venture to invest in global credit markets, initially targeting $1 billion. Mubadala committed a further $1 billion to Blue Owl Capital's credit platform in the same year.