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Goldman Sachs and Abu Dhabi's sovereign wealth fund Mubadala have struck a $1 billion deal, signing a seperately managed account in which the companies will co-invest in private credit in the Asia Pacific, the companies said on Monday. The companies will jointly invest in multiple Asia Pacific markets with a particular focus on India, as part of the agreement. "The diverse and rapidly growing economies, as well as the increasing private-equity deal volumes, are significantly driving demand in Asia Pacific for customized credit solutions from non-traditional lenders," Omar Eraiqat, deputy CEO, Diversified Investments at Mubadala, said in a statement.
(Reuters) -Abu Dhabi's sovereign wealth fund Mubadala Investment Company has struck a $1 billion deal with Goldman Sachs to go after private credit deals in Asia, the companies said on Monday. Mubadala and the U.S. bank agreed on a partnership to co-invest in private credit opportunities in the Asia Pacific region, with a particular focus on India, the companies said in a statement. The partnership will be managed by Private Credit at Goldman Sachs Alternatives, with a dedicated on-the-ground team across multiple Asia Pacific markets, Mubadala and Goldman said.