In an exciting development for the Asia-Pacific region, Goldman Sachs and Abu Dhabi sovereign wealth fund Mubadala have announced a $1 billion private credit partnership. This partnership will focus on investing in high-quality companies across various markets in the region, with a particular emphasis on India.
The news of this collaboration comes on the heels of Goldman Sachs’ expansion in the Middle East, with the opening of its office in Abu Dhabi Global Market. The UAE and other Gulf states have been increasing their economic footprint in India, which is poised to be the fastest-growing G20 economy in the 2023-24 fiscal year.
Fabrizio Bocciardi, Mubadala’s head of credit investments, highlighted India as a key market with significant opportunities in private credit. He expressed confidence in Goldman Sachs’ capabilities and exposure in the region.
Greg Olafson, global head of private credit at Goldman Sachs Alternatives, emphasized the expansive opportunity in private credit in the Asia-Pacific region, citing strong economic growth and favorable conditions for private lenders. He sees the partnership with Mubadala as a way to expand their investment focus in the region.
Omar Eraiqat, Mubadala’s deputy CEO of diversified investments, stated that the partnership with Goldman Sachs aligns with their goal of growing their private credit exposure in the APAC region. Mubadala Investment Company manages a global portfolio of $276 billion, with a focus on diversifying the UAE economy.
Overall, this partnership between Goldman Sachs and Mubadala represents a significant step towards fostering economic growth and investment opportunities in the Asia-Pacific region, particularly in India. With long-term capital and a commitment to supporting the growth of leading companies, the two institutions aim to make a positive impact on the region’s economy.
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