Mubadala and KKR formed a joint venture in a $1bn deal.

Mubadala, a global sovereign investor, and KKR, a global investment firm, formed a joint venture in a $1bn deal, that will see the two firms co-investing across performing private credit opportunities in the Asia Pacific region. "Expanding into the Asia Pacific region is a core pillar of our strategy as this market presents unique credit investment opportunities, driven by its rapid growth and high demand for non-bank capital. We are very pleased to collaborate with KKR, an experienced and high-caliber partner, and we look forward to leveraging their deep experience and capabilities in Asia Pacific to pursue credit opportunities and deliver value to our stakeholders," Omar Eraiqaat, Mubadala Co-Head of Credit Investments.