Alpha Dhabi doubles MICAD Credit JV to $1B
Alpha Dhabi doubles MICAD Credit JV to $1B
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Key Points
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Alpha Dhabi is listed on the Abu Dhabi Securities Exchange (ADX), underscoring its status as a publicly traded company.
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In the second quarter, Alpha Dhabi reported a quarterly profit of Dh9.8 billion, with investments in SpaceX and Anthropic contributing to the results.
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Alpha Dhabi's portfolio comprises more than 250 businesses across sectors, including healthcare and renewable energy.
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The MICAD Credit JV expansion and the accompanying stake and capital changes were reported by multiple outlets, indicating broad regional coverage of the deal (GCC Business News and Pakistan Point News).
Alpha Dhabi Holding PJSC has doubled its commitment to private credit, raising investment in its MICAD Credit JV to $1 billion and increasing its ownership stake to 40% from 20%, according to UAE Barq. The Abu Dhabi-listed investment company is betting big on private credit as a core growth strategy alongside its 250-plus portfolio companies spanning healthcare, renewable energy, and tech.
The expanded partnership with Mubadala Capital broadens MICAD's investment mandate beyond US and European direct lending into additional private credit strategies. The joint venture currently manages about $1.7 billion across 45 portfolio companies, Voice of Emirates reported.
Alpha Dhabi's Strong Quarter Fuels Expansion
Alpha Dhabi reported a quarterly profit of Dh9.8 billion in Q2, bolstered by holdings in SpaceX and Anthropic. The diversified portfolio now spans more than 250 businesses globally. The MICAD Credit commitment reflects the company's confidence that private credit will become a key pillar of future returns.
Doubling Down on Private Credit Strategies
Alpha Dhabi's ownership stake in MICAD Credit JV jumped from 20% to 40%, while its total capital commitment doubled to $1 billion, according to Big News Network. The move signals the company views private credit as a strategic priority. Mubadala Capital executives frame the expansion as building high-quality platforms and accessing differentiated investment opportunities through their institutional network.
MICAD Credit's Expanding Mandate and Portfolio
The MICAD Credit JV now oversees roughly $1.7 billion across 45 portfolio companies, Trade Arabia noted. Beyond its existing US and European direct lending focus, the expanded mandate now covers additional private credit strategies. This wider scope allows Alpha Dhabi to tap into a broader range of high-quality global opportunities through Mubadala Capital's network and expertise.
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