Mubadala Sends US$ 1 Billion To Blue Owl
Posted on 09/14/2023
Mubadala has placed US$ 1 billion with US$ 150 billion alternative asset manager Blue Owl Capital. The funds went to Blue Owl’s credit platform. The move is in line with the planned strategic partnership the two have agreed on. The money will be used to finance tech companies. Mubadala’s Credit Investments team has been investing since 2009 in private debt. Direct lending to middle market and large cap companies across a variety of industries and asset classes has been Mubadala’s priority. Mubadala had been interested in North America, but is now expanding around the world.
Doug Ostrover, Co-CEO of Blue Owl said: “We are proud to form a strategic partnership with a high-performing and renowned investor such as Mubadala. This mandate reflects the depth of our direct lending capabilities within the technology sector and our ability to deliver differentiated solutions that enable our clients to meet their investment objectives. We look forward to a long and successful partnership with Mubadala as we work together to drive value across our strategy.”
Fabrizio Bocciardi, Head of Credit Investments at Mubadala said: “We are very pleased to partner with Blue Owl as we expand our credit investment strategy into technology lending. Private credit has become an integral part of the financing solutions available to support corporate growth and there is an increasing demand for debt capital from well-established and high-growth software and technology businesses, which typically have leading market positions, resilient customer base and strong financial fundamentals. As a leader in the technology lending space, Blue Owl is well-positioned to capitalize on both current and future opportunities. We look forward to working with the Blue Owl team to realize the significant benefits of this partnership.”
