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.

TASI

12,531.76

-0.6% (YTD: +4.7%)

MSCI Tadawul 30

1,616.76

-0.2% (YTD: +4.3%)

USD : SAR (SAMA)

3.75 Sell

3.75 Buy

Interest rates

6% repo

5.5% reverse repo

EGX30

28,931.92

+3.9% (YTD: +16.2%)

ADX

9,260.60

-0.2% (YTD: -3.3%)

DFM

4,223.25

-0.1% (YTD: +4%)

S&P 500

5,069.53

-0.4% (YTD: +6.3%)

FTSE 100

7,684.30

-0.3% (YTD: -0.6%)

Euro Stoxx 50

4,864.29

-0.2% (YTD: +7.6%)

Brent crude

USD 82.57

+1.2%

Natural gas (Nymex)

USD 1.66

+3.5%

Gold

USD 2,038.90

-0.5%

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.

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