Goldman Sachs and Abu Dhabi’s Mubadala Form $1 Billion Partnership for Asia Pacific Investments

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Goldman Sachs and Abu Dhabi’s sovereign wealth fund, Mubadala, have entered into a $1 billion private credit partnership aimed at investing in the Asia-Pacific region, with a particular emphasis on India, according to a joint statement released by both institutions.

Managed by Private Credit at Goldman Sachs Alternatives, the “Partnership” will operate as a separately managed account. It will deploy long-term capital into “high quality companies” across the private credit spectrum in various Asia-Pacific markets, with dedicated staff stationed in different regional markets.

This agreement follows Goldman’s expansion into the Middle East in 2023 with the opening of its office in Abu Dhabi Global Market, the financial hub of the UAE capital. It coincides with increased economic engagement between the UAE, other Gulf states, and India. India’s economy is expected to be the fastest-growing among G20 nations for the 2023-24 fiscal year. The UAE announced a $75 billion investment target in India, while Saudi Arabia set a $100 billion investment goal in the country.

Fabrizio Bocciardi, Mubadala’s head of credit investments, highlighted India’s prominence as a key market with substantial opportunities in private credit, where Goldman Sachs possesses strong exposure and capabilities.

Greg Olafson, global head of private credit at Goldman Sachs Alternatives, sees immense potential in private credit across the Asia Pacific, citing robust regional economic growth and favorable conditions for private lenders to support leading companies with flexible, long-term capital.

Omar Eraiqat, Mubadala’s deputy CEO of diversified investments, views the partnership with Goldman Sachs as aligned with Mubadala’s strategic growth initiatives, particularly in expanding private credit exposure in the Asia Pacific region.

Mubadala Investment Company manages a diverse global portfolio valued at $276 billion, spanning six continents and various sectors and asset classes. The firm prioritizes the diversification of the UAE economy through its investments.