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Goldman and Mubadala agree $1bn private credit deal

Goldman Sachs has secured $1bn from Abu Dhabi sovereign wealth fund Mubadala Investment Company for more private credit deals in Asia, according to a report by Bloomberg, with the two businesses set to make co-investments with a particular focus on India.

The agreement with Mubadala is similar to a mandate secured by Goldman’s money management unit from the Ontario Municipal Employees Retirement System back in September.

There has been a noted increase in private credit tie-ups in the Middle East over the past year, with Barclays pursuing a partnership with AGL Credit Management with anchor capital from the Abu Dhabi Investment Authority, while Mubadala has already struck deals with Ares Management and Blue Owl.

According to Bloomberg, which has around $300bn in AUM and is one of Abu Dhabi’s three main sovereign wealth funds, is looking to double its exposure to Asia by 2030 to capitalise on faster-growing economies and diversify its investment portfolio.

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