Abu Dhabi’s Invest AD, Blackstone Unveil Private Debt Fund

Abu Dhabi Investment Company (Invest AD), a wholly owned subsidiary of Mubadala Investment Company, has launched the Invest AD Blackstone Private Debt Fund.

The SCA-regulated fund will offer local feeder access to Blackstone’s US and European private credit strategies. The feeder will enable eligible non-US investors to have access to Blackstone’s platform, with a primary focus in the UAE.

“We believe the current double-digit yields we’re seeing in the asset class present a compelling opportunity for returns like that of historical equity performance while taking senior secured risk,” said Rashmi Madan, head of EMEA for Blackstone Private Wealth Solutions.

Following regulatory announcements made by the SCA in January, the fund is the first global private credit fund-of-funds for professional investors in the UAE. The launch expands access to a class of assets that was previously primarily available to institutional investors.

Blackstone Credit’s income-oriented private credit strategies invest primarily in senior secured debt of large private US and European companies, focusing primarily on senior secured and floating-rate loans.

Blackstone Credit is one of the world’s largest credit managers and currently makes up more than half of its $295 billion credit and insurance platform.