Tuesday, January 31, 2023

KKR and Mubadala make $1bn private credit bet in APAC


  • Mubadala extends private credit footprint in APAC
  • Abu Dhabi SWF backing helps KKR scale up range
  • “High demand for non-bank capital” in APAC

US asset manager KKR is partnering with Mubadala, the Abu Dhabi sovereign wealth fund, in a $1bn private credit co-investment focused on Asia-Pacific.

The pair said they would invest at least $1bn in long-term capital, “providing bespoke credit solutions to companies and sponsors.”

Part of Mubadala’s capital will be deployed in KKR Asia Credit Opportunities Fund, a $1.1bn fund built around performing, privately originated credit investments in the region.

Mubadala manages $284bn for the U.A.E. KKR, which has a $178bn global credit platform, has invested $3bn in APAC credit since 2019.

“Expanding into the Asia Pacific region is a core pillar of our strategy as this market presents unique credit investment opportunities, driven by its rapid growth and high demand for non-bank capital,” said Omar Eraiqaat, co-head of credit investments at Mubadala.

Read the statement.