Alpha Dhabi Lifts MICAD Commitment To $1 Billion Arabian Post
Arabian Post Staff -Dubai
Alpha Dhabi Holding has doubled its capital commitment to the Mubadala Capital-managed MICAD Credit joint venture to $1 billion and raised its ownership stake to 40 per cent from 20 per cent, expanding its exposure to global private credit.The Abu Dhabi Securities Exchange-listed investment group said the revised partnership agreement also broadens MICAD Credit JV's mandate beyond its existing US and European direct-lending activities. The venture will be able to pursue additional private credit strategies available through Mubadala Capital's long-standing relationships with investment partners and market participants.
MICAD Credit JV currently manages about $1.7 billion in assets across 45 portfolio companies, according to Alpha Dhabi. The expanded commitment therefore increases Alpha Dhabi's share of a platform that has moved beyond its original direct-lending focus as private credit becomes a larger component of the group's investment portfolio.
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