Mubadala Capital Completes Integration of Mubadala Investment Company’s Credit Business, Expanding Its Global Alternative Asset Management Platform
Mubadala Capital has announced the successful completion of the integration of Mubadala Investment Company’s Credit business into its global alternative asset management platform, marking a significant milestone in the firm’s long-term growth strategy. The transaction represents one of the most important developments in Mubadala Capital’s evolution, expanding its investment capabilities, broadening access to institutional and private investors, and strengthening its position as a diversified global alternative asset manager.
As part of the integration, Mubadala Capital will assume responsibility for managing Mubadala Investment Company’s existing $25 billion credit portfolio under a long-term management agreement. The move also opens the previously internal credit platform to third-party investors for the first time, creating new opportunities for institutional clients, insurance companies, and private wealth investors seeking exposure to private credit strategies.
To reinforce its confidence in the business, Mubadala Investment Company has committed an additional $4.65 billion in capital to support the continued expansion of the platform. The new commitment demonstrates Mubadala’s long-term belief in private credit as an increasingly important asset class and underscores its commitment to helping Mubadala Capital accelerate its growth as a global investment manager.
A Major Milestone in Mubadala Capital’s Evolution
The integration of the Credit business represents another transformational step in Mubadala Capital’s development over the past decade.
Originally established as a private equity investment platform, Mubadala Capital has steadily expanded beyond its initial focus to build a diversified alternative investment business spanning multiple asset classes and investor segments.
Today, the firm serves institutional investors, insurance companies, sovereign investors, family offices, and private wealth clients through an increasingly comprehensive range of investment strategies.
The addition of Mubadala’s Credit business significantly strengthens this platform by adding an established private credit franchise with a long operating history, extensive market relationships, and a diversified portfolio of investments.
The integration reflects broader trends across the global investment industry, where alternative asset managers continue expanding into private credit as investors seek diversified income-producing assets in evolving market conditions.
Expanding Beyond Traditional Private Equity
Mubadala Capital’s growth strategy has centered on broadening both its investment capabilities and its client base.
Since launching its third-party capital platform in 2017, the firm has actively pursued opportunities to transform itself from an internally focused investment manager into a global asset management business serving external investors.
A key milestone came in 2021 when Mubadala Capital became an independent subsidiary of Mubadala Investment Company, providing greater flexibility to expand its investment platform while maintaining strong strategic support from its parent organization.
Over subsequent years, the company completed several high-profile transactions that significantly increased its global footprint.
Among the most notable developments was the acquisition of CI Financial in 2025, which substantially expanded Mubadala Capital’s wealth management and advisory capabilities.
The firm also established strategic partnerships with organizations including Silver Rock Financial, Aldar Capital, and Aquarian, further strengthening its presence across multiple investment sectors.
These initiatives have contributed to extraordinary growth.
According to the company, assets under management, advisory, and administration have increased from approximately $20 billion in 2022 to more than $600 billion today, illustrating the rapid expansion of the platform in just a few years.
Integrating a $25 Billion Credit Portfolio
At the heart of the latest transaction is the transfer of Mubadala Investment Company’s long-established Credit business into Mubadala Capital.
The integrated portfolio includes approximately $25 billion in credit investments accumulated through years of disciplined investing across multiple private credit markets.
Under the new long-term management agreement, Mubadala Capital will oversee the entire portfolio while continuing to manage investments according to the same investment philosophy that has guided the business since its inception.
Unlike many newly established private credit funds, the transferred business brings a substantial investment track record supported by experienced investment professionals and longstanding relationships with leading lending partners around the world.
This continuity is expected to provide confidence to both existing stakeholders and prospective third-party investors entering the platform.
Opening the Platform to Third-Party Investors
One of the most significant outcomes of the integration is that Mubadala’s Credit platform will now become accessible to outside investors.
Previously managed exclusively for Mubadala Investment Company, the business will now be available to institutional and private investors seeking exposure to private credit opportunities.
This represents a major strategic shift for the organization.
By opening the platform to external capital, Mubadala Capital significantly expands its fundraising capabilities while providing investors access to an investment strategy that has been developed and refined over many years.
Third-party investors will benefit from the platform’s established investment process, longstanding origination partnerships, disciplined underwriting standards, and diversified portfolio construction.
For Mubadala Capital, the move also creates opportunities to scale the business further while expanding its role in the increasingly competitive global private credit market.
Additional Capital Commitment Demonstrates Confidence
Alongside the transfer of the Credit business, Mubadala Investment Company has committed an additional $4.65 billion in capital to support future growth.
The new capital commitment reflects strong confidence in both the Credit platform and Mubadala Capital’s ability to manage its continued expansion.
Rather than simply transferring existing assets, Mubadala is actively investing additional resources to help grow the business, pursue new investment opportunities, and attract additional third-party capital.
This substantial commitment also reinforces the long-term strategic relationship between Mubadala Investment Company and Mubadala Capital while providing a stable capital foundation for future investment activity.
In an environment where private credit continues attracting significant investor interest, access to committed long-term capital provides an important competitive advantage.
Strengthening Corporate Governance
The integration is accompanied by several important leadership changes designed to strengthen governance and strategic oversight.
His Excellency Khaldoon Khalifa Al Mubarak, Managing Director and Group Chief Executive Officer of Mubadala Investment Company, has joined the Board of Mubadala Capital as Chairman.
His appointment reflects the strategic importance of the expanded asset management platform while reinforcing Mubadala’s continued involvement in its long-term direction.
Meanwhile, Waleed Al Mokarrab Al Muhairi will continue serving on the Board as Vice Chairman, ensuring continuity within the organization’s leadership structure.
The enhanced governance framework aligns with Mubadala Capital’s growing global presence and expanding responsibilities as a manager of both proprietary and third-party investment capital.
Leadership Perspective on the Integration
Hani Barhoush, Managing Director and Chief Executive Officer of Mubadala Capital, described the transaction as a defining moment in the company’s history.
According to Barhoush, the Credit business has built a distinctive investment platform characterized by consistent investment philosophy, experienced professionals, and durable partnerships developed across multiple market cycles.
He emphasized that while ownership and organizational structure have evolved, the underlying investment approach remains unchanged.
Existing partners can therefore expect continuity in both investment discipline and relationship management.
At the same time, Barhoush noted that the integration significantly expands the firm’s capabilities by providing access to greater scale, broader investment opportunities, and additional capital resources.
He also highlighted Mubadala’s decision to appoint Khaldoon Khalifa Al Mubarak as Chairman and commit $4.65 billion in additional capital as clear demonstrations of confidence in the platform’s future.
According to Barhoush, these developments support Mubadala Capital’s broader vision of connecting diverse sources of institutional capital with attractive investment opportunities spanning multiple asset classes, geographic markets, and partnership structures.
A Well-Established Private Credit Platform
The Credit business being integrated into Mubadala Capital is far from a newly created investment operation.
Mubadala first entered private debt investing in 2009, gradually building a sophisticated credit investment platform over more than a decade.
During that period, the business developed relationships with 14 leading origination partners, enabling access to a wide variety of private credit opportunities worldwide.
These partnerships remain central to the platform’s investment strategy and will continue following the integration.
Rather than originating every investment internally, the business collaborates with specialized lending partners possessing deep expertise across different sectors and regions.
This partnership model provides access to proprietary investment opportunities while supporting portfolio diversification across multiple credit markets.
Diversified Investment Strategies
The integrated Credit platform invests across numerous areas of private credit, providing broad diversification within the asset class.
Its investment strategies include:
- Direct lending
- Real estate debt
- Infrastructure debt
- Secondary credit investments
- Net Asset Value (NAV) financing
- Technology private credit
- Asia-focused private credit opportunities
This diversified approach allows the platform to pursue attractive risk-adjusted returns across different economic sectors, geographic regions, and financing structures.
Diversification also helps reduce concentration risk while improving portfolio resilience throughout changing market environments.
As investor demand for private credit continues increasing globally, access to multiple specialized investment strategies enhances the platform’s long-term competitiveness.
Experienced Investment Team Transitions to Mubadala Capital
An important aspect of the integration is the continuity of investment professionals responsible for managing the portfolio.
More than 25 investment professionals have transitioned from Mubadala Investment Company to Mubadala Capital as part of the transfer.
The team will continue operating under the same investment philosophy, partnership approach, and leadership structure that have guided the Credit business since its establishment.
Maintaining continuity among investment professionals is particularly important in private credit, where long-term relationships, market knowledge, and consistent underwriting standards often contribute significantly to investment performance.
Clients and investment partners therefore gain the benefits of organizational expansion without sacrificing continuity in portfolio management.
Leadership of the Credit Business
The expanded Credit platform will be led by experienced investment executives who have played central roles in building the business.
Omar Eraiqat joins Mubadala Capital as Senior Partner, President, and Chief Investment Officer for Credit and Solutions.
In this role, he will oversee the strategic direction of the firm’s credit investment activities while supporting continued product development and capital formation.
Fabrizio Bocciardi joins as Senior Partner and Head of Credit, further strengthening the leadership team responsible for managing the growing investment platform.
Together, they bring extensive experience across private credit markets and will guide the next phase of expansion as Mubadala Capital broadens its relationships with institutional investors worldwide.
Returning to Its Origins
Reflecting on the integration, Omar Eraiqat noted that the Credit business was originally incubated and developed within Mubadala Capital before evolving into a standalone operation within Mubadala Investment Company.
In many respects, the transfer represents a return to its original home.
He emphasized that the business’s origination partners, investment processes, leadership team, and overall philosophy remain unchanged despite the organizational transition.
According to Eraiqat, the integration provides a purpose-built platform capable of supporting the Credit business as it enters its next stage of growth while preserving the characteristics that have contributed to its long-term success.
The completion of the Credit business integration positions Mubadala Capital for continued expansion within the rapidly growing alternative asset management industry.
Private credit has emerged as one of the fastest-growing segments of global alternative investments as institutional investors increasingly seek diversified income-producing assets that can offer attractive risk-adjusted returns outside traditional public markets.
By combining an established $25 billion credit portfolio, experienced investment professionals, longstanding origination partnerships, and substantial additional capital from Mubadala Investment Company, the firm has significantly strengthened its competitive position.
Opening the platform to third-party investors further expands its growth potential by creating opportunities to attract institutional capital from around the world.
As Mubadala Capital continues evolving into a diversified global alternative asset manager, the successful integration of Mubadala Investment Company’s Credit business represents a pivotal milestone—one that enhances its investment capabilities, broadens its client offering, strengthens its leadership structure, and establishes a larger foundation for future growth across global private markets.
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