The Abu Dhabi-based sovereign wealth fund has partnered with US investments house Barings, and will reportedly investing alongside MassMutual, in a new joint venture valued at $500 million.
The debt facility is intended to address emerging global needs for real estate refinancing and will be pan-regional; it further asserts new leadership for Barings as a traditional asset manager leaning aggressively into private credit with global partners, a growing piece of its $30 billion real estate portfolio.
The move is Mubadala's latest foray into private real estate credit following earlier tie-ups with KKR, Apollo, and Carlyle, and comes on the same day it announced a major acquisition with Bain Capital.
“This joint effort positions us to deliver innovative financing solutions across key global regions and seize the opportunities created by market dislocation,” said Mike Freno, Chairman & CEO, Barings. "[The partnership means] we are well-positioned to capitalize on market opportunities going forward, providing creative financing solutions that deliver resilient, long-term value to our stakeholders,” added Omar Eraiqaat, Deputy CEO, Credit and Special Situations at Mubadala.
