Alpha Dhabi doubles stake and investment in Mubadala joint venture to $1bn

Alpha Dhabi has increased its stake and investment in its joint venture with the emirate’s sovereign fund, Mubadala Investment Company, to $1 billion. The company has raised its shareholding in Micad Credit JV from 20% to 40%. Micad manages approximately $1.7 billion in assets across 45 portfolio companies. The partnership agreement also expands the investment horizon to include additional private credit strategies offered by Mubadala Capital, which has long-standing relationships in the US and Europe.

Hamad Al Ameri, managing director and group chief executive of Alpha Dhabi, expressed confidence in private credit as a strategic pillar of the investment portfolio. Private credit, which involves lending to companies by institutions other than banks, has experienced significant growth since the 2008-09 financial crisis, with demand expected to reach $5 trillion by 2029.