United Arab Emirates state-owned investment firm Mubadala Investment has formed a partnership with Blue Owl Capital to invest US$1 billion in the US alternative manager’s credit platform that provides financing for technology and software companies.
Mubadala has been investing in the private debt market since 2009 with a focus on direct lending to mid- and large-cap companies across various asset classes and industries in North America, Europe and Asia Pacific.
According to Fabrizio Bocciardi, head of credit investments at Mubadala, the partnership with Blue Owl will help the company expand its credit investment strategy into technology lending.
“Private credit has become an integral part of the financing solutions available to support corporate growth and there is an increasing demand for debt capital from well-established and high-growth software and technology businesses, which typically have leading market positions, resilient customer base and strong financial fundamentals,” Bocciardi says in a statement on September 11.
The shareholding structure of the platform between Mubadala and Blue Owl has not been disclosed.
Abu Dhabi-based Mubadala has around $276 billion of assets under management. New York-headquartered Blue Owl manages $150 billion of assets as of June 2023.