Goldman Sachs, Mubadala sign $1b private credit partnership deal

Abu Dhabi's sovereign wealth fund Mubadala Investment Company has struck a $1 billion deal with Goldman Sachs to go after private credit deals in Asia, the companies said on Monday, reports Reuters.

Mubadala and the US bank agreed on a partnership to co-invest in private credit opportunities in the Asia Pacific region, with a particular focus on India, the companies said in a statement.

The partnership will be managed by Private Credit at Goldman Sachs Alternatives, with a dedicated on-the-ground team across multiple Asia Pacific markets, Mubadala and Goldman said.

The Abu Dhabi sovereign investor has been building up its exposure to private credit markets through partnerships, leveraging on opportunities in distressed debt amid a high interest rate environment.

Last year, Goldman Sachs announced it was opening a new office in Abu Dhabi, marking a significant milestone for the Wall Street bank.