Abu Dhabi-based Catalyst Partners, a $1 billion fund backed by the state-owned Mubadala Investment Company, has splashed out $225 million on its first investments.
These include a $100 million investment in New York-based Avenue Capital Group and its global private credit strategy, $100 million on a new aircraft leasing company with Ireland-based Sirius Aviation capital, and $25 million with Guernsey-based Freedom Asset Management to fund the expansion of its wealth management platform.
All three companies will have offices based in Abu Dhabi General Markets (ADGM), although Freedom Asset Management already has a presence in the ADGM having set up an office in March 2018.
Catalyst Partners was formed in April as a joint venture between Mubadala and US-based manager Falcon Edge Capital with the mandate to seek investment opportunities while also building a sustainable presence at the ADGM.
“The ability of ADGM to attract an investment firm with the heritage and pedigree of Avenue Capital Group is a testament to the work undertaken over the last six years to build a best-in-class financial hub. It should also encourage other asset managers to set up in ADGM,” said Guy Hurley, chief executive of Abu Dhabi Catalyst Partners, in a statement.
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