Alpha Dhabi and Mubadala Buy Apollo’s European Lending Portfolio
Alpha Dhabi Holding and Mubadala Investment Company announced on Wednesday that their joint venture (JV) has bought a European Direct Lending (EDL) portfolio that was managed by Apollo Global Management. This new deal is another major step in their plan to build a strong and diversified credit investment platform.
Details of the Acquisition
Even after the sale, Apollo will continue to manage and grow the lending portfolio. This means that Apollo will still handle the day-to-day work, ensuring the portfolio continues to perform well. For Alpha Dhabi and Mubadala, this arrangement helps create a steady pipeline of future investment opportunities. It supports their goal of deploying capital in a disciplined way while aiming for attractive returns.
The EDL portfolio includes loans across several sectors. It adds new positions in consumer services and consumer goods. It also strengthens exposure in key industries such as healthcare, technology, business services, and financial services. By expanding into these sectors, the JV expects to achieve better diversification and reduce overall risk.
Hamad Al Ameri, managing director and group CEO of Alpha Dhabi, said that the new Apollo portfolio fits well with their existing assets. He explained that this acquisition will help the JV unlock more opportunities for growth and strengthen its long-term investment strategy.
Important Quote
Omar Eraiqaat, deputy CEO of credit and special situations at Mubadala, said the deal represents an important moment for their joint venture. He noted that buying a European Direct Lending portfolio helps the JV move closer to its goal of building a strong and resilient credit platform across the UK and Europe. He also said the acquisition shows Mubadala’s commitment to making careful, disciplined investment decisions.
About the Joint Venture
The partnership between Alpha Dhabi and Mubadala was formed in 2023. Since then, the JV has focused on finding and investing in promising credit opportunities in sectors and regions that offer attractive, risk-adjusted returns. Their strategy is to invest in credit markets where they see long-term potential and where they believe their expertise can add value.
As of September 2025, the JV’s portfolio included about $1 billion in assets spread across 24 borrowers, also known as obligors. These assets come from several sectors, helping the JV build a balanced and diversified portfolio.
The addition of Apollo’s EDL portfolio—worth around $600 million—will significantly expand the JV’s size. Once the new assets are added, the JV will manage approximately $1.6 billion across 39 obligors. This growth reflects the JV’s strong momentum and its ability to secure high-quality credit investments.
Overall, the acquisition marks an important step forward for Alpha Dhabi and Mubadala. By adding a well-managed and diversified lending portfolio from Apollo, the JV aims to continue growing, expanding its reach across Europe, and strengthening its position in the global credit investment market.
Published: 10th December 2025
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