Alpha Dhabi and Mubadala formed a joint venture to co-invest in credit opportunities. Alpha Dhabi and Mubadala aim to collectively deploy almost $2.5 billion over the next five years, leveraging Mubadala’s partnership with Apollo to access high-quality private credit investment opportunities.

Mubadala will hold 80% ownership in the new Abu Dhabi Global Market-based joint venture entity, with the remaining 20% to be held by Alpha Dhabi.

“We have continued to assess the private credit market asset class recently with a keen interest, particularly given the current global market environment. We are proud to partner with Mubadala and Apollo – both of which are renowned in this space – to address the global market need for alternative forms of liquidity and credit. The asset class provides further diversification to our portfolio and attractive risk-adjusted returns,” Hamad Salem Al Ameri, Chief Executive Officer and Managing Director of Alpha Dhabi, said.