The joint venture of Alpha Dhabi Holding, one of the fastest-growing investment holding companies in the MENA region, and Mubadala Investment Company, an Abu Dhabi sovereign investor, have acquired a European Direct Lending portfolio managed by Apollo Global Management (Apollo).
Since its establishment in 2023, the Alpha Dhabi-Mubadala joint venture has focused on identifying and deploying capital into compelling credit opportunities in sectors and geographies that offer attractive risk-adjusted returns.
The European Direct Lending portfolio introduces new positions in Consumer Services and Goods, in addition to exposure in Healthcare, High Technology, Business Services, and Financial Services. Apollo continues to manage and grow the portfolio post-acquisition.
As part of its long-term strategy, this value-driven acquisition reinforces the core ambition of the joint venture: to deliver superior risk-adjusted returns while maintaining a disciplined approach to credit investing.
As of September 2025, the joint venture’s portfolio has reached about $1 billion across 24 obligors. Adding Apollo EDL’s $0.6 billion portfolio will raise total pro forma assets under management to roughly $1.6 billion across 39 obligors.
The acquisition also strengthens its deal-flow pipeline, supporting deployment targets as it progresses toward its $2.5 billion commitment program.
Hamad Al Ameri MD and Group CEO Alpha Dhabi Holding
“This acquisition represents a transformative step forward for our joint venture, expanding its exposure to some of the world’s most dynamic markets across sectors driving the economy of the future. Apollo EDL portfolio will complement our existing assets further positioning it to unlock further growth and diversification opportunities.”
Omar Eraiqaat, Deputy CEO of Credit and Special Situations at Mubadala, stated that, “The acquisition of a European Direct Lending portfolio marks a significant milestone for our joint venture with Alpha Dhabi as it advances our strategy to build a resilient, scaled credit platform across the UK and Europe, and reinforces our commitment to disciplined deployment.”
