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Abu Dhabi Sovereign wealth fund Mubadala and global investment bank Goldman Sachswill co-invest USD 1 bn in private credit in the Asia-Pacific region under a new partnership agreement,according to a joint statement. The partnership will see the two deploy long-term capital to “high quality companies and sponsors” throughout the region, with a particular focus on India, the statement said.
How it will work: Goldman Sachs Alternatives’ private credit division will use on the ground teams across different Asia Pacific markets to look for potential clients, the statement said.
ICYMI: Mubadala plans to more than double its assets in Asia to 25%, from the 12% currently under the fund’s management, head of Mubadala’s life sciences and healthcare investments Camilla Macapili Languille told Bloomberg.
Asian markets are trading sideways this morning, and futures point to a soft opening for markets in Europe, the United States and Canada later today after US stocks yesterday took a breather after the Dow and S&P 500 cooled from record highs last week.
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TASI |
12,531.76 |
-0.6% (YTD: +4.7%) |
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MSCI Tadawul 30 |
1,616.76 |
-0.2% (YTD: +4.3%) |
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USD : SAR (SAMA) |
3.75 Sell |
3.75 Buy |
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Interest rates |
6% repo |
5.5% reverse repo |
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EGX30 |
28,931.92 |
+3.9% (YTD: +16.2%) |
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ADX |
9,260.60 |
-0.2% (YTD: -3.3%) |
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DFM |
4,223.25 |
-0.1% (YTD: +4%) |
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S&P 500 |
5,069.53 |
-0.4% (YTD: +6.3%) |
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FTSE 100 |
7,684.30 |
-0.3% (YTD: -0.6%) |
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Euro Stoxx 50 |
4,864.29 |
-0.2% (YTD: +7.6%) |
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Brent crude |
USD 82.57 |
+1.2% |
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Natural gas (Nymex) |
USD 1.66 |
+3.5% |
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Gold |
USD 2,038.90 |
-0.5% |
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BTC |
USD 54,695.03 |
+5.7% (YTD: +136.4%) |
THE CLOSING BELL-
The TASI fell 0.6% yesterday on turnover of SAR 9.2 bn. The index is up 4.7% YTD.
In the green: Amiantit (+7.7%), Maharah (+6.2%) and Wataniya (+5.8%).
In the red: APC (-5.6%), EIC (-5.6%) and MBC Group (-5.4%).
CORPORATE ACTIONS-
#1- Walaa Cooperative Ins.’ board of directors recommended a capital increase to SAR 467.5 mn through a rights issue at SAR 11 per share, it said in a disclosure to Tadawul.
#2- Burgerizzr’s board of directors has recommended a dividend payout of SAR 5 mn for 2023 at SAR 0.14 apiece, it said in a disclosure to Tadawul. No further information was provided.
