Abu Dhabi’s Mubadala and US agency CalSTRS will invest $215 million in 3650 Capital

BY THE ARAB TODAY Mar 29, 2025

Abu Dhabi's Mubadala and US agency CalSTRS will invest $215 million in 3650 Capital

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Abu Dhabi’s Mubadala and US agency CalSTRS will invest $215 million in 3650 Capital

Abu Dhabi’s Mubadala Investment Company and the U.S. agency California State Teachers Retirement System (CalSTRS) have invested $215 million in 3650 Capital, a company that lends money for commercial real estate. 3650 Capital announced this on Thursday.

Investments

The money from these returning investors will be used across 3650 Capital’s lending strategies and will help improve several investment products.

Jonathan Roth, co-founder and managing partner of 3650 Capital, said that CalSTRS and Mubadala have given the company the support it needs to offer different financial solutions to borrowers. This helps the company maintain strong performance and continue growing.

“We are excited to continue working with both organizations as we find new opportunities to invest in different projects across the U.S. in 2025 and beyond,” said Roth.

The new funds will be spread across 3650 Capital’s three investment strategies.

CalSTRS and Mubadala’s investment will support 3650’s stable cash flow strategy, which provides long-term, fixed-rate loans. It will also help 3650’s Real Estate Credit Solutions (RECS) strategy, which focuses on short-term loans for real estate projects, including SASB and transitional loans.

Additionally, CalSTRS’ investment will support 3650’s Special Situations Investment Strategy (SSIS). This strategy focuses on investing in troubled financial situations, buying loans, and helping businesses grow.

Key Quote

“As we enter 2025, private investors are seeing many opportunities to finance commercial real estate projects, especially as banks pull back,” said Toby Cobb, co-founder and managing partner of 3650 Capital.

“Our business model, experience in real estate cycles, and creative approach help us take advantage of these opportunities and deliver strong returns.”

Previous Investments

In the third quarter of 2024, 3650 Capital received almost $430 million from CalSTRS and two new investors—Temasek, a Singapore-based investment firm, and a well-known wealth management and investment advisory company.

Earlier in 2024, the company also received a $100 million commitment from the Public Officials Benefit Association (POBA), a public pension fund based in Seoul, South Korea.