Stock - Alpha Dhabi
Alpha Dhabi recently entered a JV with Mubadala to tap private credit opportunities globally. The combine will deploy up to $2.5b. Image Credit: WAM

Dubai: The Abu Dhabi investment group Alpha Dhabi’s Q1-23 net profit is up a substantial 161 per cent year-on-year – and totalling an equally eighty Dh7.3 billion. With investments cutting into multiple sectors, including real estate and hospitality, Alpha Dhabi’s total assets weighed in at Dh120.6 billion end March. That’s higher by 129 per cent from a year ago.

The company is already charting out more high growth avenues. There is the venture with Mubadala to invest in ‘global credit opportunities’.

The plan is to deploy up to Dh9 billion (around $2.5 billion) over the next five years, through ‘leveraging Mubadala’s long-term and strategic partnership with Apollo, the world’s largest alt-asset managers, to access high-quality private credit investment opportunities’.

Mubadala will hold 80 per cent ownership in the ADGM-based JV, with the remaining with Alpha Dhabi.

“We have started this year robustly, with our diversified portfolio delivering results which continue the momentum from last year,” said Hamad Al Ameri, CEO of Alpha Dhabi Holding. “We will continue to develop our core verticals both organically and through additional investment and acquisition. We continue to deploy capital effectively in value-accretive opportunities that support the market leadership of our portfolio companies.”

Our diversified business continues to grow from strength to strength with a positive market sentiment in the UAE, underpinned by strong economic fundamentals and a buoyant capital markets landscape in contrast with the global outlook.

- Hamad Al Ameri of Alpha Dhabi Holding

Revenues during the first three months were Dh12.8 billion, a gain of 56 per cent. The profit for the period also stemmed from the fair value gain out of the ‘de-recognition of Pure Health Holding’. Contributions from the real estate and industrial portfolio continuing to be strong drivers of growth for the Group.

Alpha Dhabi has stakes in more than 150 businesses.