Alpha Dhabi Holding PJSC, which claims to be one of the fastest-growing investment holding companies in the MENA region, listed on the Abu Dhabi Securities Exchange (ADX: AlphaDhabi), and Mubadala Investment Company PJSC, an Abu Dhabi sovereign investor, have recently announced that their joint venture has acquired a European Direct Lending portfolio managed by Apollo Global Management. Apollo continues to “manage and grow the portfolio post-acquisition.”
Following its formation back in 2023, the so-called Alpha Dhabi – Mubadala joint venture has been focused on identifying and “deploying capital into credit opportunities in sectors and geographies that offer risk-adjusted returns.”
The European Direct Lending portfolio introduces positions in Consumer Services and Goods, in addition “to exposure in Healthcare, High Technology, Business Services, and Financial Services.”
Eng. Hamad Al Ameri, Managing Director and Group CEO of Alpha Dhabi Holding PJSC, said that this acquisition represents a step forward for their joint venture, “expanding its exposure to some of the world’s dynamic markets across sectors driving the economy of the future.”
Apollo EDL portfolio will complement their existing assets “further positioning it to unlock further growth and diversification opportunities.”
They added that as part of its long-term strategy, this “value-driven acquisition reinforces the core ambition of the joint venture: to deliver risk-adjusted returns while maintaining a disciplined approach to credit investing.”
Omar Eraiqaat, Deputy CEO of Credit and Special Situations at Mubadala, added that the acquisition of a European Direct Lending portfolio marks a significant milestone for their joint venture with Alpha Dhabi “as it advances our strategy to build a credit platform across the UK and Europe, and reinforces our commitment to disciplined deployment.”
Jim Vanek, Partner and Co-Head of Global Performing Credit at Apollo, said that they have had a long partnership with Mubadala and Alpha Dhabi, and we are now eager to “support this transaction as their joint venture seeks to benefit from senior secured European direct lending exposure.”
They continue to see “risk-adjusted credit opportunities and a growing, structural need for private capital in Europe.”
As of Sept ’25, the joint venture’s portfolio has grown “to approximately $1 billion in assets across 24 obligors.”
The addition of Apollo EDL’s $0.6 billion portfolio will now aim to increase the joint venture’s pro forma AuM “to approximately $1.6 billion across 39 obligors.”
As noted in the update, the acquisition further establishes a steady ongoing deal-flow pipeline, supporting deployment objectives as the firm “advances toward its $2.5 billion commitment program.”