Goldman Sachs and Mubadala Investment Company signed a $1 billion credit partnership, in which the Mubadala and Goldman Sachs Alternatives will co-invest in private credit opportunities throughout the Asia Pacific region.
The partnership will be managed by private credit at Goldman Sachs Alternatives, with a dedicated on-the-ground team across multiple Asia Pacific markets.
The global private credit team consists of 165 seasoned credit investment professionals overseeing more than $110 billion in assets under management (AUM) and drawing on the network, expertise and capabilities of Goldman Sachs to source and underwrite global lending opportunities.
Since 1998, Goldman Sachs has invested across multiple Asia Pacific markets, including Australia and New Zealand, India, Southeast Asia, China, Korea and Japan.
The new mandate will enable both firms to continue scaling their investment activity in the large and growing Asia Pacific credit market.
The partnership will aim to deploy $1 billion of long-term capital, offering customised private credit solutions to high-quality companies and sponsors throughout the Asia Pacific region.
It will invest across the private credit spectrum and is expected to invest across multiple Asia Pacific markets with a particular focus on India.
Marc Nachmann, Global Head of Asset and Wealth Management at Goldman Sachs, said this partnership bolsters the expansion of the firm’s Asia credit platform and investment in new opportunities across the Asia Pacific region where bespoke credit solutions are needed.
“We continue to believe our rigorous underwriting and dedicated on-the-ground sourcing provides us differentiated investment opportunities. We look forward to working closely with Mubadala and growing this partnership between our firms,” he said.
Omar Eraiqat, Deputy CEO of Diversified Investments at Mubadala, said the diverse and rapidly growing economies, as well as the increasing private equity deal volumes, are significantly driving demand in Asia Pacific for customised credit solutions from non-traditional lenders.
“This partnership with Goldman Sachs compliments our aspirations to grow our private credit exposure in APAC, a region that is central to Mubadala’s strategic growth initiatives,” Eraiqat said.
Goldman Sachs expands MENA presence
In 2023, Goldman Sachs announced that it is expanding its footprint in the Middle East and North Africa (MENA) region by opening a new office in Abu Dhabi Global Market (ADGM), the international financial centre of the UAE’s capital city.
The new office will complement the firm’s growing regional presence, allowing the firm to deepen relationships with clients and meet them where they are.
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