UAE – Mubasher: Abu Dhabi-based global sovereign investor Mubadala Investment Company has formed a strategic partnership with alternative asset manager Blue Owl Capital under which the UAE entity will commit $1 billion.

The pledge will be allocated to Blue Owl’s Credit platform with an initial focus on its Technology Lending strategy, which offers financing solutions for various technology and software companies, according to a press release.

Head of Credit Investments at Mubadala, Fabrizio Bocciardi, said: “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, which typically have leading market positions, resilient customer base and strong financial fundamentals.”

Bocciardi added: “As a leader in the technology lending space, Blue Owl is well-positioned to capitalize on both current and future opportunities.”

From his side, Co-CEO of Blue Owl, Doug Ostrover, said: "This mandate reflects the depth of our direct lending capabilities within the technology sector and our ability to deliver differentiated solutions that enable our clients to meet their investment objectives."

It is worth noting that Mubadala’s Credit Investments unit has been investing in private debt opportunities since 2009, with a focus on direct lending to middle market and large cap businesses in different segments and asset classes.

Recently, Mubadala invested in pan-Americas firm Aligned Data Centers, along with majority partners that are managed by Macquarie Asset Management.