Sovereign Wealth Funds Shake Up World of Direct Lending
- Mubadala and Qatar Investment Authority strike investor deals
- Apollo, Barings, Credit Suisse expand private credit role
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A series of mammoth investor tie-ups aimed at financing corporate buyouts is upending the world of direct lending, a corner of the credit market once dominated by boutique funds.
Tuesday’s announcement of Mubadala Investment Company’s new $3.5 billion direct lending partnership with Barings follows the Abu Dhabi sovereign wealth fund’s earlier $12 billion venture with Apollo Global Management. Last week also saw Credit Suisse reveal its new multi-billion dollar direct lending partnership with the Qatar Investment Authority.