Abu Dhabi, UAE — Abu Dhabi Investment Company (Invest AD), a wholly owned subsidiary of Mubadala Investment Company, Monday announced the launch of the Invest AD Blackstone Private Debt Fund, an SCA-regulated fund, which will offer local feeder access to Blackstone’s US and European private credit strategies.
The feeder brings Blackstone’s institutional-caliber credit platform to qualified non-US investors, primarily in the UAE.
Invest AD Blackstone Private Debt Fund is the first global private credit fund of funds vehicle for professional investors in the UAE, following the SCA regulatory announcements in January 2023. The launch broadens access to an asset class that has historically only been primarily accessible to institutional investors, Invest AD said.
Blackstone Credit’s income-oriented private credit strategies invest primarily in the senior secured debt of large private US and European companies, focusing primarily on senior secured and floating-rate loans.
Blackstone Credit is one of the world’s largest credit managers, with significant experience investing in the private credit space. Today, private credit strategies make up over half of Blackstone Credit and Insurance’s US$295 billion platform.
Rashmi Madan, Head of EMEA for Blackstone Private Wealth Solutions, said, “We are proud to partner with Invest AD to expand access to institutional quality private credit solutions for their clients, as we have done in markets around the world. We are seeing strong demand for private credit today. We believe the current double-digit yields we’re seeing in the asset class present a compelling opportunity for returns similar to that of historical equity performance, while taking senior secured risk.”
Mohammad Behzad Saleemi, CEO of Abu Dhabi Investment Company (Invest AD), said, “This strategic partnership with Blackstone will enable us to provide our clients with access to semi-liquid private credit platforms. Private credit has the potential to generate strong returns as part of investors’ portfolios, and we look forward to partnering with the leading player in this space to broaden access to this asset class.”