Goldman Sachs Secures $1B Private Credit Deal With Abu Dhabi's Mubadala To Capitalize On Surging Interest In Asia-Pacific Market
Portfolio Pulse from Benzinga Neuro
Goldman Sachs Group Inc (NYSE:GS) has entered into a $1 billion private credit deal with Abu Dhabi's Mubadala Investment Co. to expand its private credit business in the Asia-Pacific region, focusing on India. This move is part of Goldman's strategy to grow its presence in the alternative investment space and capitalize on the surging interest in the Asia-Pacific market. The deal follows a trend of increasing private credit collaborations in the Middle East, with Barclays and Mubadala engaging in similar partnerships.
February 26, 2024 | 6:35 am
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Goldman Sachs Group Inc has secured a $1 billion deal with Mubadala Investment Co. to expand its private credit business in the Asia-Pacific, focusing on India. This strategic move is expected to enhance Goldman's presence in the alternative investment space and contribute to its revenue growth, despite a 24% dip in net income for fiscal 2023.
The $1 billion deal with Mubadala Investment Co. signifies a major expansion effort by Goldman Sachs in the Asia-Pacific private credit market, a region with growing interest from investors. This strategic move aligns with Goldman's broader strategy to enhance its presence in the alternative investment space, which has been a key revenue driver. The partnership is likely to be viewed positively by investors, given the potential for higher returns in the burgeoning Asia-Pacific market, despite the recent dip in Goldman's net income.
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