Alpha Dhabi Holding PJSC and Mubadala Investment Company PJSC have announced that their joint venture has acquired a European Direct Lending portfolio managed by Apollo Global Management. The acquisition expands the joint venture’s reach into new sectors, including Consumer Services and Goods, as well as enhancing its presence in Healthcare, High Technology, Business Services, and Financial Services.
The joint venture between Alpha Dhabi and Mubadala was formed in 2023 to seek out credit opportunities offering strong risk-adjusted returns. The newly acquired portfolio introduces positions across several industries considered important for future economic growth.
Eng. 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 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, commented: “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 reported by both companies, since September 2025 the portfolio managed by the joint venture has grown to about $1 billion in assets across 24 obligors. With this latest addition—a $0.6 billion high-quality portfolio from Apollo—the total assets under management are expected to rise to approximately $1.6 billion spanning 39 obligors.
The deal also creates an ongoing pipeline for new investments as the firm moves toward its target commitment programme totaling $2.5 billion.
