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Mubadala commits $1bn to US tech lending platform

NYSE-listed Blue Owl is an alternative investment manager with $150bn in assets under management Unsplash.com
NYSE-listed Blue Owl is an alternative investment manager with $150bn in assets under management

Abu Dhabi state investor Mubadala Investment Company has committed $1 billion to US-based Blue Owl Capital’s credit platform to initially focus on financing technology and software companies.

New York Stock Exchange-listed Blue Owl is an alternative investment manager with $150 billion in assets under management.

“Private credit has become an integral part of the financing solutions available to support corporate growth and there is an increasing demand for debt capital from well-established and high-growth software and technology businesses,” Mubadala’s head of credit investments Fabrizio Bocciardi said in the statement.

Doug Ostrover, co-CEO of Blue Owl said this mandate reflects the depth of its direct lending capabilities within the technology sector and ability to deliver differentiated solutions to meet investment objectives.

The Abu Dhabi sovereign investor has been pursuing private debt investment opportunities since 2009, with its credit investment unit intensifying exposure to the Asia Pacific, although initially focusing on North America and Europe.

UAE artificial intelligence firm G42, which counts Mubadala as an investor, in August launched a $10 billion fund to invest in late-stage technology companies.

The fund will invest in computing, clean technology and renewables, digital infrastructure, life sciences, healthcare, new materials and fintech, among other areas.

Mubadala led the $400 million Series D funding round for digital insurance startup Wefox in July, which will help drive German insurtech’s expansion.

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