Abu Dhabi sovereign Mubadala and US investor Fortress Investment Group have entered a $1 billion partnership to invest in credit and special situations co-investment opportunities.

$1 billion will be deployed from Mubadala, which owns a stake in Fortress through its subsidiary Mubadala Capital, in Fortress’s existing private credit, asset-based lending and real estate strategies, alongside Fortress’s existing pools of capital.

Since the stake acquisition in May 2024, Fortress management owns a 32% equity interest in the company, entitling them to appoint a majority of seats on the board. A consortium led by Mubadala Capital owns 68% of Fortress equity.

The new partnership will include a number of new business lines with an internal team focused on growing inorganically through strategic partnerships and acquisitions.

Fortress had $49 billion in management assets and more than $200 billion invested as of the end of December 2024.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

imogen.lillywhite@lseg.com