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☆ Goldman Sachs and Abu Dhabi's Mubadala ink $1 billion partnership to invest in Asia Pacific
▼ + stars: | 2024-02-26 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

DUBAI, United Arab Emirates — Goldman Sachs and Abu Dhabi sovereign wealth fund Mubadala on Monday signed a $1 billion private credit partnership to co-invest in the Asia-Pacific region, with a particular focus on India, the institutions said in a joint statement. The separately managed account, termed the "Partnership," will be managed by Private Credit at Goldman Sachs Alternatives, with a staff based on the ground in various markets across the region. It will invest the long-term capital in "high quality companies ... across the private credit spectrum" across a number of Asia-Pacific markets. The UAE in October 2023 announced a target to invest $75 billion in India over a period of time, while Saudi Arabia set an investment target in the country of $100 billion. "India, in particular, stands out as a key market with significant opportunities in private credit, and where Goldman Sachs has strong exposure and capabilities," said Fabrizio Bocciardi, Mubadala's head of credit investments, in a press release.

Persons: United Arab Emirates — Goldman Sachs, Goldman Sachs, Fabrizio Bocciardi Organizations: United Arab Emirates, Monday, Private Credit, Goldman Sachs, Abu Dhabi Global Market, United Arab Locations: DUBAI, United Arab, Abu Dhabi, Asia, Pacific, India, United Arab Emirates, UAE, Saudi Arabia

☆ The Israel-Hamas war threatens to derail Middle Eastern investment in US media and entertainment
▼ + stars: | 2023-11-04 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Still, the US presence highlighted the deepening ties between Hollywood and the region , as Western media, entertainment, and sports entities have seen major investment in recent years from Saudi, Qatar, and the UAE. Even before October 7, US entities that were receiving investment from the Middle East were reluctant to speak publicly about those relationships. Insider spoke with investors, producers, and other media and entertainment stakeholders about what's next for Hollywood's relationships with Mideast backers. Qatar hasn't seen any recent major deals but earlier this year, Peter Chernin and Providence Equity's production roll-up The North Road received $150 million from the Qatar Investment Authority. "The political nature gets more complicated," an industry insider observer said, noting how countries like Qatar are grabbing headlines for their role in the situation.

Persons: haven't, Jamal Khashoggi, Israel, it's, Knaebel, They're, Greg Silverman's, Silverman, Harry Potter, Chris Nolan's, Abu Dhabi's, Ari Emanuel, Peter Chernin, Jeff Zucker, LIV Golf Organizations: Film, Washington Post, Hollywood, Global Media, Saudi, Stampede Ventures, Warner Bros, Endeavor, Qatar hasn't, Providence, North, Qatar Investment Authority, IMI, CNN, Investment Fund, PGA Locations: Saudi Arabia, American, Jeddah, Saudi, Qatar, UAE, Gaza, Israel, Germany, Silver

The behind-the-scenes details on the IPO pricing decision are based on interviews with three people familiar with the discussions. Together with other previously unreported deliberations, they shed new light on why SoftBank took a conservative approach in valuing Arm in the IPO. SoftBank, which had owned 75% of Arm, agreed to buy the remaining 25% from its $100 billion Vision Fund at a $64 billion valuation last month. Representatives for Arm, SoftBank, PIF, Mubadala and Raine either declined to comment or did not immediately respond to requests for comment. VISION FUND BOUNCEBACKThe Vision Fund returned to profitability in the latest quarter thanks to investors' excitement around artificial intelligence boosting the value of some of the startups in which it invested.

Persons: Dado Ruvic, Masayoshi Son, Raine Group, Son, SoftBank, Fund's, Abu Dhabi's Mubadala, Raine, Didi Global, Echo Wang, Anirban Sen, Greg Roumeliotis, Christopher Cushing Organizations: REUTERS, SoftBank, Wednesday, Arm Holdings, Nasdaq, Vision Fund, Investors, Saudi Arabia's Public Investment Fund, Vision, Reuters, Nvidia Corp, Thomson Locations: San Francisco, New York, Mubadala, China, United States

☆ Abu Dhabi's Mubadala commits $1 billion to Blue Owl Capital's credit platform
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Sept 11 (Reuters) - Abu Dhabi state fund Mubadala Investment Company has committed $1 billion to U.S.-based Blue Owl Capital's credit platform under a strategic partnership announced by the two companies on Monday. The investment will initially focus on providing financing for technology companies, Mubadala and Blue Owl said in a statement. Blue Owl is an alternative investment manager with $150 billion in assets under management. Private credit funds are increasingly competing with banks, including for financing large company buyouts. I would advise that for the next maybe one year, the credit space would be an interesting space to deploy some investment," al-Mahmoud said at the time.

Persons: Fabrizio Bocciardi, QIA, Mansoor Ebrahim Al, Mahmoud, al, Hadeel Al Sayegh, Susan Fenton Organizations: Mubadala Investment Company, Asia Pacific, Qatar Investment Authority, Thomson Locations: DUBAI, Abu Dhabi, North America, Europe, Asia

If the negotiations lead to a deal, the Japanese tech investor would be delivering a major, immediate windfall to VF1 investors, including Saudi Arabia's Public Investment Fund and Abu Dhabi's Mubadala. A big windfall for VF1 investors could boost SoftBank's chances of tapping them for capital again in the future. VF1's investment committee and SoftBank's investment advisory board, attended by fund investor representatives, are handling the negotiations, one of the sources added. SoftBank, VF1 and Arm declined to comment. SoftBank, which took Arm private for $32 billion in 2016, sold a 25% stake in the company to VF1 for $8 billion in 2017.

Persons: Dado Ruvic, Abu Dhabi's Mubadala, Didi Global, VF1, SoftBank, Masayoshi Son, Raine, VF2, Son, Echo Wang, Anirban Sen, Greg Roumeliotis, Mark Porter Organizations: REUTERS, SoftBank Group Corp, Vision Fund, Nasdaq, Saudi Arabia's Public Investment Fund, WeWork Inc, Alibaba Group, HK, Deutsche Telekom, Mobile U.S, Amazon.com Inc, Reuters, Nvidia Corp, Thomson Locations: Arm, New York

☆ SoftBank is in talks to buy Vision Fund's 25% stake in Arm, sources say
▼ + stars: | 2023-08-13 | by ( ) www.cnbc.com time to read: +3 min

Yet its previous losses prevented SoftBank from securing outside investors for Vision Fund 2 (VF2), whose $56 billion in capital came from the Japanese firm and its management, including Chief Executive Masayoshi Son. A big windfall for VF1 investors could boost SoftBank's chances of tapping them for capital again in the future. It has been considering raising a third Vision Fund. VF1's investment committee and SoftBank's investment advisory board, attended by fund investor representatives, are handling the negotiations, one of the sources added. SoftBank, VF1 and Arm declined to comment.

Persons: SoftBank, Abu Dhabi's Mubadala, Didi Global, VF1, Masayoshi Son, Raine Organizations: Financial Times, Vision Fund, Nasdaq, Saudi Arabia's Public Investment Fund

☆ Abu Dhabi's Mubadala to buy majority stake in Fortress Investment from SoftBank
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +1 min

May 22 (Reuters) - Abu Dhabi's Mubadala Investment Co will acquire a majority stake in U.S. asset manager Fortress Investment Group from Japan's SoftBank Group Corp (9984.T). Financial terms of the deal were not disclosed, Mubadala and Fortress Investment said in a joint statement on Monday. After the completion of the deal, Fortress' management will own a 30% stake in the company, while Mubadala Capital will hold the rest, according to the statement. Fortress management will hold a class of equity that entails it to appoint a majority of seats on the board. Fortress will appoint Drew McKnight and Joshua Pack as co-CEOs and Pete Briger as chairman, the companies said.

LONDON, March 28 (Reuters) - BP (BP.L) and Abu Dhabi's state oil giant on Tuesday offered to acquire 50% of Israeli offshore natural gas producer NewMed Energy (NWMDp.TA) for around $2 billion, making their entry into Israel's growing energy sector. The offer would involve acquiring NewMed's free floating shares and taking the company private. BP shares gained 2% by 0810 GMT while NewMed shares were up around 30%. For BP, the deal highlights the British company's focus on growing natural gas production after Chief Executive Bernard Looney last month slowed down its shift away from fossil fuels. After the deal closes NewMed will become a private corporation equally held by the BP-ADNOC JV and Delek Group (DLEKG.TA), which holds the remaining 50%.

☆ Abu Dhabi's Mubadala, Alpha Dhabi to enter credit markets via new venture
▼ + stars: | 2023-01-05 | by ( ) www.cnbc.com time to read: 1 min

Abu Dhabi state fund Mubadala Investment Co and UAE-based conglomerate Alpha Dhabi plan to deploy up to 9 billion dirhams ($2.5 billion) in credit markets through a new joint venture, the companies said on Thursday. The two companies plan to leverage on Mubadala's relationship with U.S. asset manager Apollo "to access high-quality private credit investment opportunities", they said in a joint statement with Apollo. Mubadala will own 80% of the venture, which will be based in Abu Dhabi Global Market, the emirate's financial freezone. The remaining 20% will be held by Alpha Dhabi, the statement said.

☆ Abu Dhabi's Mubadala sells $1 billion in 10-1/2-year bonds - document
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: 1 min

DUBAI, Oct 18 (Reuters) - Abu Dhabi sovereign wealth fund Mubadala sold on Tuesday $1 billion in bonds maturing in 10-1/2 years after drawing more than $4.2 billion in orders for the debt sale, a bank document showed. The bonds launched at 165 basis points (bps) over 10-year U.S. Treasuries from initial guidance of about 200 bps over the same benchmark, the bank document showed. Register now for FREE unlimited access to Reuters.com RegisterReporting by Yousef SabaOur Standards: The Thomson Reuters Trust Principles.

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