Abu Dhabi’s sovereign wealth fund Mubadala Investment Company has stated that private credit has been its best-performing asset class for three years in a row.
In an interview with Bloomberg Television at Davos, Waleed Al Mokarrab, Mubadala’s deputy group chief executive officer, praised the returns that have been delivered by the fund’s private credit investments.
“We’ve been able to manage that well and not take too much risk,” he said.
Read more: Mubadala buys 42pc share in LA-based credit manager
“At least over the past two or three years, we’ve been achieving some pretty good returns associated with that.”
Mubadala has partnered with a number of private credit funds in recent years, including Ares, Goldman Sachs, and Apollo.
Last year, Goldman Sachs signed a $1bn (£0.81bn) with Mubadala to invest in private credit across the Asia Pacific region.
In December 2023, Mubadala partnered with Ares Management and Aldar Properties on a $1bn private credit fund.
And in December 2024, Mubadala Capital agreed to acquire a 42 per cent stake in Los Angeles-based credit investment specialist Silver Rock Financial, with a view to committing more than $1bn to the firm.
Read more: Most sovereign wealth funds plan to ramp up private credit allocation
Mubadala also has a long-standing relationship with Apollo. In November, it was announced that the two companies have extended their partnership for multiple years, as Mubadala looks to grow its private debt and equity origination capabilities globally.
Al Mokarrab told Bloomberg that Mubadala has six private credit partnerships across the US, Europe and Asia.
The sovereign wealth fund has assets of approximately $1.7tn. According to research from Global SWF, it was the world’s most active sovereign investor last year with $29.2bn deployed.
Read more: Abu Dhabi’s Mubadala partners with Ares on $1bn private credit fund
