Goldman Sachs has secured $1bn from Abu Dhabi sovereign wealth fund Mubadala Investment Company for more private credit deals in Asia, according to a report by Bloomberg, with the two businesses set to make co-investments with a particular focus on India.
The agreement with Mubadala is similar to a mandate secured by Goldman’s money management unit from the Ontario Municipal Employees Retirement System back in September.
There has been a noted increase in private credit tie-ups in the Middle East over the past year, with Barclays pursuing a partnership with AGL Credit Management with anchor capital from the Abu Dhabi Investment Authority, while Mubadala has already struck deals with Ares Management and Blue Owl.
According to Bloomberg, which has around $300bn in AUM and is one of Abu Dhabi’s three main sovereign wealth funds, is looking to double its exposure to Asia by 2030 to capitalise on faster-growing economies and diversify its investment portfolio.
Source: Private Equity Wire
Can’t stop reading? Read more
EQT leads $5.5bn Galderma share sale in record Swiss secondary exit
EQT leads $5.5bn Galderma share sale in record Swiss secondary exit EQT and its co-investors have...
CVC reports record performance as €205bn private markets platform expands
CVC reports record performance as €205bn private markets platform expands CVC Capital Partners...
Brookfield explores $1.3bn acquisition of EQT and PAI-backed World Freight Company
Brookfield explores $1.3bn acquisition of EQT and PAI-backed World Freight Company Brookfield...