Mubadala Opens Its $25B Credit Business to Global Investors

Mubadala just opened its $25B business to outsiders.

For 17 years, this was Mubadala's book alone.

Mubadala Capital now manages the portfolio under a long-term agreement, while Mubadala retains all assets on its own balance sheet.

- $25B portfolio, built since 2009
- 14+ origination partners globally
- Real estate and infrastructure debt
- Direct lending to corporates and sponsors
- Private credit secondaries and NAV financing

This is a sovereign fund turning its own track record into a product, proving the strategy with its own money before selling access to it.

Mubadala is also putting in $4.65B of its own money to grow the platform before outsiders invest.

That's a clear signal of 'skin in the game'.
And it's landing at an interesting moment.

Banks are pulling back from direct lending, while parts of the $1.8T private credit market are dealing with a wave of redemptions.

Mubadala is betting that the gap left by retreating banks is bigger than the risk sitting in the rest of the market.

Origination partners include: Apollo Global Management, Inc., Citi, Blue Owl Capital, Barings, The Carlyle Group, and KKR

Would you invest alongside a sovereign wealth fund?