Alpha Dhabi, Mubadala's Credit joint venture reaches $1 billion portfolio milestone
Mubadala Investment Company and Alpha Dhabi Holding PJSC today announced that their joint venture, which was launched in 2023, has reached a significant milestone, building an approximate US$1 billion portfolio in global credit opportunities.
This achievement marks a key step toward the partnership's goal of deploying up to US$2.5 billion by 2028, underscoring its strong momentum and progress.
The joint venture, which is based in Abu Dhabi Global Market and is 80% owned by Mubadala with Alpha Dhabi owning the remaining 20%, leverages Mubadala's long-term and strategic partnership with Apollo (NYSE: APO), one of the world's largest alternative asset managers, to access high-quality private credit investment opportunities.
Since its inception in 2023, the partnership has focused on identifying and capitalising on compelling credit opportunities in sectors and geographies that offer attractive risk-adjusted returns.
Hamad Salem Al Ameri, Managing Director and Group Chief Executive Officer of Alpha Dhabi Holding, said, 'Alpha Dhabi's partnership with Mubadala and Apollo emphasises our commitment to best-in-class long-term partnerships with leading investment managers. For us, gaining access to proprietary private credit opportunities enables us to generate superior risk-adjusted returns while diversifying our portfolio from an asset class and geographical perspective.'
Omar Eraiqaat, Deputy CEO of Credit and Special Situations, stated, 'This is a significant milestone for our joint venture with Alpha Dhabi, which leverages our existing strategic relationship with Apollo. This achievement underscores the strength of the platform we have built, and our commitment to identifying and capitalising on high-quality private credit investments. We look forward to continuing this momentum and reaching the goal of our partnership.'
Apollo Partner Jim Vanek said, 'Alpha Dhabi and Mubadala are important long-term partners to Apollo. Leveraging our strength in global credit origination, we are pleased for the JV to reach this key milestone.'
Mubadala's journey in credit investments dates back to 2009, with its Credit Investments unit successfully navigating private markets through making investments into middle-market and large-cap companies globally.
Alpha Dhabi recognises that credit investing comes with vast opportunities as well as potential risks. The Group continuously refines its approach to risks and prospects to ensure appropriate investment outcomes.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
6 hours ago
- Gulf Today
GCC budget spending estimated at $542.1 billion for 2025: GCC-STAT
The Statistical Centre for the Cooperation Council for the Arab States of the Gulf (GCC-STAT) has estimated that government revenues in 2025 totalled US$487.8 billion, while expenditures reached US$542.1 billion, resulting in an estimated deficit of US$54.3 billion. According to data released by the Centre, government revenues in GCC countries are directly affected by global oil prices, as oil revenues constitute the largest share of financial resources. Countries follow a conservative approach in calculating the break-even oil price to estimate their general budgets, avoiding international economic fluctuations and variations in global oil prices. Government revenues are expected to remain relatively stable, as oil prices remain at moderate to high levels. Most GCC countries have also projected an increase in their spending in 2025 compared to their 2024 spending estimates. This increase is a determinant of growth in the GCC economies in general, and is directed towards completing infrastructure projects and stimulating growth in some economic sectors, to implement strategic development plans. Meanwhile, GCC countries plan to finance budget deficits by drawing on reserves and borrowing domestically and abroad. WAM
Gulf Today
9 hours ago
- Gulf Today
Christopher Aleo emerges as potential buyer for Dubai's Palazzo Versace Hotel
Gulf Network The iconic Palazzo Versace Dubai, one of the most prestigious luxury hotels in the city, may soon change ownership. Known for its neoclassical architecture and interiors designed by the Italian fashion house Versace, the property has entered a public auction process due to the financial distress of its current ownership. The auction has drawn attention from various international players, and among the potential bidders is Christopher Aleo, a Swiss-Italian entrepreneur and founder of the international financial group iSwiss. However, the potential acquisition is not expected to be carried out directly by iSwiss Bank, but rather through its U.S.-based investment arm, the iSwiss Hedge Fund, headquartered in New York. According to market sources familiar with the matter, the fund is evaluating the opportunity as part of a broader financial strategy, which may include structuring the investment through a listed vehicle on the New York Stock Exchange (NYSE). A Strategic Real Estate Opportunity Located in Jaddaf Waterfront, just minutes from Dubai's financial district, Palazzo Versace is being offered at a base price of approximately AED 600 million (around USD 163 million), significantly below its previously reported valuation of over AED 1.3 billion. Despite the financial challenges facing the current owner, the hotel remains fully operational and continues to deliver high standards of hospitality. For investors, the property represents a prime real estate asset, combining strategic location, brand equity, and established luxury credentials. With 215 rooms and suites, multiple high-end restaurants, lounges, a spa, and views over Dubai Creek, the hotel has long been a preferred destination for international travelers, business leaders, and celebrities. Aleo's Role and the Hedge Fund Angle Christopher Aleo, founder and majority shareholder of the iSwiss Group, is a well-known figure in European financial circles and has had an increasing presence in Dubai's business environment in recent years. While he has made no official comment on the matter, his New York-based hedge fund is reportedly among the entities conducting due diligence on the potential acquisition. Industry analysts note that the deal, if completed, could be structured as a public investment vehicle listed on the NYSE, making it not only a hospitality acquisition but also a sophisticated financial transaction involving international capital markets. This model — integrating high-profile real assets into institutional investment frameworks — has become increasingly common among hedge funds and private equity firms, particularly in cases involving luxury or landmark properties. A Return to Italian Style and New Investment Should the acquisition materialize, the new ownership may consider a strategic repositioning of the hotel, involving significant reinvestments in both infrastructure and service offerings. Sources close to the matter suggest the potential for a refresh of the hotel's Italian design identity, with renewed focus on aesthetic coherence and luxury standards aligned with current global trends. The acquisition by a European-led fund could also represent a reintroduction of Italian influence into the brand's identity, preserving and enhancing the stylistic DNA originally conceived by Versace. Any such repositioning would likely be supported by fresh capital for renovations, branding updates, and enhanced guest services, aligning the hotel more closely with Dubai's rapidly evolving luxury hospitality landscape. No Official Statements At this stage, neither the current ownership of Palazzo Versace nor the iSwiss Group has issued formal statements regarding the potential deal. However, the market has taken note of the growing involvement of hedge funds and international financial players in Dubai's real estate and tourism sectors. The city continues to assert itself as a global hub for tourism, finance, and luxury, offering a fertile environment for cross-sector investment strategies that blend real estate, branding, and financial engineering. Institutional Finance Meets Luxury Real Estate If completed, the acquisition by iSwiss Hedge Fund would represent one of the most significant hospitality-related transactions in the Gulf region this year, further highlighting the convergence of institutional finance and the real economy. Such a move would also reflect a broader trend: financial groups increasingly looking to diversify portfolios by integrating tangible assets into structured investment frameworks, leveraging global equity markets as a source of liquidity and visibility. The coming weeks will likely determine whether this interest translates into a formal bid. If so, it would mark an important milestone for both the iSwiss Group and the hotel itself, setting the stage for a new chapter in the life of one of Dubai's most recognizable hospitality landmarks. For now, Christopher Aleo's name remains one of the most closely watched among potential buyers — a sign of how traditional finance is steadily expanding its footprint into high-end sectors like branded real estate and luxury travel.
Gulf Today
18 hours ago
- Gulf Today
VIDEO: Israel and Iran strike at each other in new wave of attacks
Israel and Iran launched fresh attacks on each other late on Saturday, stoking fears of a wider conflict after Israel expanded its surprise campaign against its main rival with a strike on the world's biggest gas field. Tehran called off nuclear talks that Washington had said were the only way to halt Israel's bombing, while Israeli Prime Minister Benjamin Netanyahu said the attacks were nothing compared with what Iran would see in the coming days. Israel's military said more missiles were launched from Iran towards Israel late on Saturday, and that it was working to intercept them. It also said it was attacking military targets in Tehran. Iranian state television said Iran had launched missiles and drones at Israel. Several projectiles were visible in the night sky over Jerusalem late on Saturday. Air raid sirens did not sound in the city, but were heard in the northern Israeli city of Haifa. Israel's ambulance service said a woman in her 20s was killed and 13 other people injured when a missile struck a two-story house in northern Israel. Iran said the Shahran oil depot in Tehran was targeted in an Israeli attack but that the situation was under control. US President Donald Trump had warned Iran of worse to come, but said it was not too late to halt the Israeli campaign if Tehran accepted a sharp downgrading of its nuclear programme. A round of US-Iran nuclear talks due to be held in Oman on Sunday was canceled, with Iranian Foreign Minister Abbas Araqchi saying the discussions could not take place while Iran was being subjected to Israel's "barbarous" attacks. In the first apparent attack to hit Iran's energy infrastructure, the semi-official Tasnim news agency said Iran partially suspended production at the world's biggest gas field after an Israeli strike caused a fire there on Saturday. The South Pars field, offshore in Iran's southern Bushehr province, is the source of most of the gas produced in Iran. Fears about potential disruption to the region's oil exports had already driven up oil prices 9% on Friday even though Israel spared Iran's oil and gas on the first day of its attacks. An Iranian general, Esmail Kosari, said on Saturday that Tehran was reviewing whether to close the Strait of Hormuz controlling access to the Gulf for tankers. Iran said 78 people were killed on the first day of Israel's campaign, and scores more on the second, including 60 when a missile brought down a 14-storey apartment block in Tehran, where 29 of the dead were children. Iran had launched its own retaliatory missile volley on Friday night, killing at least three people in Israel. With Israel saying its operation could last weeks, and Netanyahu urging Iran's people to rise up against their leadership, fears have grown of a regional conflagration dragging in outside powers. B'Tselem, a leading Israeli human rights organization, said on Saturday that instead of exhausting all possibilities for a diplomatic resolution, Israel's government had chosen to start a war that puts the entire region in danger. Tehran has warned Israel's allies that their military bases in the region would come under fire too if they helped shoot down Iranian missiles. However, 20 months of war in Gaza and a conflict in Lebanon last year have decimated Tehran's strongest regional proxies, Hamas in Gaza and Hizbollah in Lebanon, reducing its options for retaliation. Israel sees Iran's nuclear programme as a threat to its existence, and said the bombardment was designed to avert the last steps to production of a nuclear weapon. Tehran insists the programme is entirely civilian and that it does not seek an atomic bomb. However the U.N. nuclear watchdog reported it this week as violating obligations under the global non-proliferation treaty. Reuters
