Emirati state-owned Mubadala Investment Co said it has partnered with an alternative asset managing firm Blue Owl Capital on Monday. This partnership is under the terms of a $1 billion commitment made to Blue Owl’s credit platforms.
This will initially focus on Blue Owl’s technology lending strategy, which provides financing solutions for a broad range of technology and software companies.
In early August, the Abu Dhabi-based firm invested in a US-based data centre, majority which is managed by Macquarie Asset Management apart from other investments in 2023.
Doug Ostrover, co-chief executive of Blue Owl said, “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.”
Blue Owl Capital is a firm that primarily focuses on providing aid to tech-based and software companies to get funds. Earlier this year, Oak Street, a division of Blue Owl in partnership with GIC, a global institutional investor acquired all the outstanding shares of US-based firm STORE Capital in an all-cash deal valued at $15 billion.
Fabrizio Bocciardi, head of Credit Investments at Mubadala said, “Private credit has become an integral part of the financing solutions available to support corporate growth.” Bocciardi further added that “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.”
