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The UAE sovereign investor Mubadala Investment Company and Goldman Sachs have signed a $1 billion deal to invest in private credit deals in Asia, with particular focus on India.
The Abu Dhabi fund and Goldman Sachs Alternatives, its asset management unit, have signed a partnership to invest across the private credit spectrum and across multiple Asia Pacific markets, a statement said on Monday.
The partnership will be managed by Goldman Sachs Alternatives, with a dedicated on-the-ground team across multiple Asia Pacific markets.
"The diverse and rapidly growing economies, as well as the increasing private-equity deal volumes, are significantly driving demand in Asia Pacific for customised credit solutions from non-traditional lenders," Omar Eraiqat, deputy CEO, Diversified Investments at Mubadala, said in a statement.
Private credit is a way for companies to raise money via tailored financing products from non-bank lenders. The Abu Dhabi fund, with about $300 billion in assets under management, is aiming to roughly double its exposure to Asia by 2030.
Fabrizio Bocciardi, Head of Credit Investments at Mubadala, added that India in particular "stands out as a key market with significant opportunities in private credit, and where Goldman Sachs has strong exposure and capabilities.”
(Writing by Brinda Darasha; editing by Bindu Rai)
