Abu Dhabi’s Mubadala Investment Company is opening its expanding private credit business to outside investors, a move that could reshape how institutional capital flows into one of the fastest-growing corners of alternative finance.
For a fund that manages roughly $30 billion in total assets across balance sheet and third-party vehicles, inviting external money into its credit operations is less a sign of need and more a strategic play to scale influence in global lending markets.
Building the credit machine
Mubadala Capital has been assembling its private credit infrastructure piece by piece. In December 2024, it acquired a 42% stake in Silver Rock Financial LP, a US-based credit manager. That deal, structured through cash and stock, was notable because it marked the first time Silver Rock accepted external equity in its ownership.
By early 2025, Mubadala reported a private credit portfolio valued at $20 billion, with investments diversified across North America and Europe. Then in April 2025, the fund struck a $1 billion partnership with Fortress Investment Group to collaborate on private credit and asset-based lending.
