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Abu Dhabi-based global sovereign investor Mubadala Investment Company announced on Monday that it has committed $1 billion to NYSE-listed alternative asset manager Blue Owl Capital's credit platform.
Within the partnership, the UAE sovereign investor with a $276 billion portfolio, will initially focus on Blue Owl's technology lending strategy, which provides financing solutions for technology and software companies, the companies said in a joint statement.
Blue Owl has $150 billion in assets under management and invests across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Estate.
Fabrizio Bocciardi, Head of Credit Investments at Mubadala, added: "We are very pleased to partner with Blue Owl as we expand our 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. As a leader in the technology lending space, Blue Owl is well-positioned to capitalize on both current and future opportunities."
Since 2009, Mubadala's Credit Investments unit has been investing in private debt opportunities, with a focus on direct lending to middle market and large cap companies across a variety of industries and asset classes. Geographically, the unit's focus has primarily been on North America and Europe, but has recently been strengthening its exposure in the rapidly growing Asia Pacific credit market.
(Writing by Brinda Darasha; editing by Seban Scaria)
