The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/FILE PHOTO
(Reuters) – Goldman Sachs and Abu Dhabi’s sovereign wealth fund Mubadala have struck a $1 billion deal, signing a seperately managed account in which the companies will co-invest in private credit in the Asia Pacific, the companies said on Monday.
The companies will jointly invest in multiple Asia Pacific markets with a particular focus on India, as part of the agreement.
“The diverse and rapidly growing economies, as well as the increasing private-equity deal volumes, are significantly driving demand in Asia Pacific for customized credit solutions from non-traditional lenders,” Omar Eraiqat, deputy CEO, Diversified Investments at Mubadala, said in a statement.
Mubadala is seeking to roughly double its exposure to Asia by as soon as 2030, according to a media report last month, citing an interview with Camilla Macapili Languille, head of the fund’s life sciences and healthcare investments division.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Sherry Jacob-Phillips)
