Today's Edition
ABU DHABI (ALETIHAD)
Alpha Dhabi Holding has doubled its capital commitment to the MICAD Credit joint venture managed by Mubadala Capital to $1 billion and increased its ownership interest in the venture to 40% from 20%.
The Abu Dhabi Securities Exchange-listed investment holding company said the revised partnership agreement also broadens the joint venture’s investment mandate to include additional private credit strategies available through Mubadala Capital’s longstanding relationships. These will be in addition to the venture’s existing direct lending activities in the US and Europe.
MICAD Credit currently manages about $1.7 billion in assets across 45 portfolio companies.
Hamad Salem Al Ameri, Managing Director and Group CEO of Alpha Dhabi Holding, said the expansion reflected the company’s conviction in private credit as a strategic part of its investment portfolio.
“Doubling our commitment and broadening our mandate is a deliberate step — one that positions us to access a wider universe of high-quality global opportunities,” Al Ameri said.“With $1.7 billion in assets across 45 portfolio companies, this joint venture is a strong platform, and we see significant runway ahead.”
Private credit generally involves lending to companies outside traditional bank lending and publicly traded bond markets. Under the revised mandate, the MICAD venture will have access to a broader range of such investment strategies through Mubadala Capital.
Omar Eraiqat, President and Chief Investment Officer, Credit and Solutions at Mubadala Capital, said the expansion of the joint venture reflected the strength of the approach. “As our credit business continues to grow, we remain focused on expanding access to differentiated private credit opportunities through our investment capabilities and long-term global relationships in the sector,” he said.
Mubadala Capital is an alternative asset management platform and a subsidiary of Mubadala Investment Company. It manages, advises and administers more than $600 billion in assets through its wholly owned businesses and strategic partnerships.
Its wholly owned core alternatives businesses manage and invest more than $60 billion across areas including private equity, credit, secondaries, venture capital and special opportunities.
Alpha Dhabi has more than 250 businesses across sectors including healthcare, renewable energy, petrochemicals, real estate, construction and hospitality, with its portfolio companies operating across more than 45 countries.
