Abu dhabi: Alpha Dhabi Holding PJSC (Alpha Dhabi) and Mubadala Investment Company PJSC (Mubadala) have announced the acquisition of a European Direct Lending portfolio managed by Apollo Global Management (Apollo). Despite the acquisition, Apollo will continue to manage and expand the portfolio.
According to Emirates News Agency, since its inception in 2023, the Alpha Dhabi – Mubadala joint venture has been focused on capitalizing on credit opportunities with promising risk-adjusted returns across various sectors and regions. The acquisition of the European Direct Lending portfolio adds new positions in Consumer Services and Goods, along with existing exposure in Healthcare, High Technology, Business Services, and Financial Services.
Hamad Al Ameri, Managing Director and Group CEO of Alpha Dhabi Holding PJSC, stated that this acquisition is a significant advancement for the joint venture, broadening its reach into vital markets. The Apollo EDL portfolio is expected to complement the joint venture’s current assets, enhancing growth and diversification potential.
Omar Eraiqaat, Deputy CEO of Credit and Special Situations at Mubadala, emphasized that the acquisition represents a key milestone in their strategy to establish a robust credit platform across the UK and Europe, highlighting their commitment to strategic deployment.
Jim Vanek, Partner and Co-Head of Global Performing Credit at Apollo, expressed satisfaction with the ongoing partnership with Mubadala and Alpha Dhabi. He highlighted the potential benefits for the joint venture from European direct lending exposure and noted the increasing demand for private capital in Europe.
As of September 2025, the joint venture has grown its portfolio to around $1 billion in assets across 24 obligors. With the addition of Apollo EDL’s $0.6 billion portfolio, the joint venture’s assets under management will increase to approximately $1.6 billion across 39 obligors. This acquisition also strengthens the deal-flow pipeline, aiding in the pursuit of a $2.5 billion commitment program.