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FILE PHOTO: A money exchange vendor counts United Arab Emirates dirhams at his shop in Beirut, December 6, 2016. Picture taken December 6, 2016. REUTERS/Mohamed Azakir/File Photo
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)