Abu Dhabi Investment Company, a wholly owned subsidiary of the UAE’s Mubadala Investment Company, has launched “Mubadala”.. Blackstone Private Debt Fund, according to the official Emirates news agency.
The fund, which is regulated by the Securities and Commodities Authority, will provide a local window to access Blackstone’s credit strategies in the USA and Europe, as the window will offer Blackstone’s institutional credit platform to qualified non-American investors, especially in the UAE.
The fund is the first private Global Trust Fund for professional investors in the UAE, after the Securities and Commodities Authority announced in January 2023 the launch of a window to access assets that have long been available only to institutional investors in particular.
Blackstone’s private and income-oriented credit strategies invest in the primary debt of major private companies in the United States and Europe, focusing primarily on primary debt and floating-rate debt.
Moreover, Blackstone credit is one of the largest credit management companies in the world, and has extensive experience in investing in the private credit field, as its credit strategies account for more than half of the value of the Blackstone credit and insurance platform, which has a market value of ٢٩٥ billion US dollars.
Rashmi Madan, head of Private Wealth Management Solutions at Blackstone in Europe, the Middle East and Africa, said: “today we are proud to partner with Abu Dhabi Investment Company to make private, institutional-grade credit solutions available to their clients, just as we have done in many other markets around the world. Today we are seeing strong demand for private credit, and we believe that the decimal return in the asset class indicates a real opportunity to achieve returns similar to the performance of those assets historically, while taking on the risks of primary secured debt,”he said.
Mohammed Behzad sulaimi, CEO of Abu Dhabi Investment Company, said, “We are proud to launch today the first private Global Financing Trust Fund to serve professional investors in the UAE. This strategic partnership with Blackstone will enable us to provide a semi-cash private credit platform to our clients, because private credit has the potential to produce strong returns as part of investors ‘ portfolios, and accordingly, we are pleased to partner with the industry leader to expand the base of this asset class,”he added.
