Alpha Dhabi And Mubadala Joint Venture Acquires European Direct Lending Portfolio Managed By Apollo Global Management

Alpha Dhabi Holding PJSC and Mubadala Investment Company PJSC have jointly acquired a European Direct Lending portfolio managed by Apollo Global Management. This acquisition is part of their strategy to invest in sectors offering attractive risk-adjusted returns. Apollo will continue managing the portfolio, which includes Consumer Services, Healthcare, and High Technology.

The joint venture between Alpha Dhabi and Mubadala was established in 2023. It aims to identify credit opportunities across various sectors and geographies. The recent acquisition enhances their exposure to dynamic markets that are crucial for future economic growth. The portfolio's expansion into Europe aligns with their strategy to build a robust credit platform.

Hamad Al Ameri, Managing Director and Group CEO of Alpha Dhabi Holding PJSC, stated, "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 of September 2025, the joint venture's assets have grown to about $1 billion across 24 obligors. With the addition of Apollo's $0.6 billion portfolio, their assets under management will reach approximately $1.6 billion across 39 obligors. This growth supports their goal of achieving a $2.5 billion commitment programme.

Omar Eraiqaat, Deputy CEO of Credit and Special Situations at Mubadala, remarked on the significance of this acquisition: "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."

Long-standing Partnership with Apollo

The collaboration between Alpha Dhabi, Mubadala, and Apollo has been fruitful over the years. Jim Vanek from Apollo expressed satisfaction with supporting this transaction: "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."

This acquisition not only strengthens their current asset base but also establishes a strong pipeline for future deals. It aligns with their objective of disciplined capital deployment while seeking superior returns.

With inputs from WAM