Alpha Dhabi-Mubadala JV acquires European direct lending portfolio managed by Apollo

11/12/2025 04:28 AST

Alpha Dhabi Holding PJSC, one of the fastest-growing investment holding companies in the MENA region, listed on the Abu Dhabi Securities Exchange, and Mubadala Investment Company PJSC, an Abu Dhabi sovereign investor, have announced that their joint venture has acquired a European Direct Lending portfolio managed by Apollo Global Management ("Apollo"). Apollo continues to manage and grow the portfolio post-acquisition.

Since its establishment in 2023, the Alpha Dhabi - Mubadala joint venture has focused on identifying and deploying capital into compelling credit opportunities in sectors and geographies that offer attractive risk-adjusted returns. The European Direct Lending portfolio introduces new positions in Consumer Services and Goods, in addition to exposure in Healthcare, High Technology, Business Services, and Financial Services.

Eng. Hamad Al Ameri, Managing Director and Group CEO of Alpha Dhabi Holding PJSC, said: "This acquisition represents a transformative step forward for our joint venture, expanding its exposure to some of the world's most dynamic markets across sectors driving the economy of the future. Apollo EDL portfolio will complement our existing assets further positioning it to unlock further growth and diversification opportunities. As part of its long-term strategy, this value-driven acquisition reinforces the core ambition of the joint venture: to deliver superior risk-adjusted returns while maintaining a disciplined approach to credit investing."

Omar Eraiqaat, Deputy CEO of Credit and Special Situations at Mubadala, added: "The acquisition of a European Direct Lending portfolio marks a significant milestone for our joint venture with Alpha Dhabi as it advances our strategy to build a resilient, scaled credit platform across the UK and Europe, and reinforces our commitment to disciplined deployment."

Jim Vanek, Partner and Co-Head of Global Performing Credit at Apollo, said: "We've had a long and fruitful partnership with Mubadala and Alpha Dhabi, and we are pleased to support this transaction as their joint venture seeks to benefit from senior secured European direct lending exposure. We continue to see attractive risk-adjusted credit opportunities and a growing, structural need for private capital in Europe."

As of September 2025, the joint venture's portfolio has grown to approximately $1 billion in assets across 24 obligors. The addition of Apollo EDL's high-quality $0.6 billion portfolio will increase the joint venture's pro forma assets under management to approximately $1.6 billion across 39 obligors.

The acquisition also establishes a strong ongoing deal-flow pipeline, supporting deployment objectives as the firm advances toward its $2.5 billion commitment programme.

Khaleej Times