Mubadala Investment Co. agreed to deploy $1 billion into private credit, asset-based lending and real estate strategies run by Fortress Investment Group under a strategic partnership focused on credit and special situations co-investment opportunities.
The $302 billion Abu Dhabi-based sovereign wealth fund and New York-based Fortress said in a joint statement that the $1 billion will be deployed in existing Fortress funds, alongside existing pools of capital.
“This strategic partnership with Fortress builds upon our existing shareholding and underscores the strength and depth of the relationship between our two institutions,” said Omar Eraiqat, deputy CEO of credit and special situations at Mubadala, in the statement. “Private credit continues to play an increasingly vital role in global capital markets, offering attractive risk-adjusted returns and providing flexible financing solutions for businesses. This partnership leverages the complementary strengths of both Mubadala and Fortress, providing access to a diverse range of credit and real estate strategies.”
Mubadala’s wholly owned asset manager Mubadala Capital owns 68% of Fortress equity. The manager, which has more than $30 billion in assets under management, has an internal team entirely focused on inorganic growth through strategic partnerships and acquisitions.
Fortress manages a total $50 billion of assets across credit, real estate, private equity and permanent capital investment strategies.
