Alpha Dhabi doubles private credit bet to $1B, lifting MICAD stake to 40%
What's the deal? Alpha Dhabi HoldingDealroom has a profile for this one. Try Dealroom → will double its capital commitment to its private credit joint venture with Mubadala Capital to $1 billion and raise its stake to 40% from 20%, the Abu Dhabi-listed investment company said on Monday. The MICAD Credit JVDealroom has a profile for this one. Try Dealroom →, managed by Mubadala Capital, holds about $1.7 billion in assets across 45 portfolio companies.
What's the endgame? The expanded investment broadens the venture's mandate to include additional global private credit strategies, alongside its existing US and European direct lending. The larger stake also widens the range of strategies Alpha Dhabi can reach through Mubadala Capital's relationships.
Why now? The move follows a quarterly profit of Dh9.8 billion for Alpha Dhabi, with holdings including SpaceXDealroom has a profile for this one. Try Dealroom → and AnthropicDealroom has a profile for this one. Try Dealroom → contributing to second-quarter results.
Group chief executive officer Hamad Salem Al Ameri said the deal reflects the company's "conviction in private credit as a strategic pillar of Alpha Dhabi's investment portfolio." He called doubling the commitment "a deliberate step, one that positions us to access a wider universe of high-quality global opportunities."
Omar Eraiqat, president and chief investment officer, credit and solutions at Mubadala Capital, said the firm stays "focused on expanding access to differentiated private credit opportunities through our investment capabilities and long-term global relationships in the sector."
Alpha Dhabi runs more than 250 businesses across healthcare, renewable energy, petrochemicals, real estate, construction, and hospitality. Its portfolio companies operate in more than 45 countries and employ over 95,000 people. Mubadala Capital, the alternative asset management arm of Mubadala Investment Company, manages and advises on more than $60 billion in assets.
The signal: Gulf investors are steering more capital into private credit as banks retreat from direct lending. By deepening its bet through an established manager, Alpha Dhabi signals it wants scale and reach in a market that global institutions increasingly view as core rather than alternative.
Read more: khaleejtimes.com
Image credit: rhomus74
