Dubai: Mubadala has teamed up with Barings, the financial services company, to create a new company that will provide financing solutions to medium-sized businesses in Europe. The Barings Mubadala Enterprise (BME) and its capital partners aim to provide $ 3.5 billion in funding over the next 18 months.
BME will particularly focus on opportunities in the UK, France, Benelux and Scandinavia. Waleed Al Mokarrab Al Muhairi, Deputy Group CEO of Mubadala and CEO of Alternative Investments & Infrastructure, said, “Mubadala has a long history of building strong, value-adding partnerships with leading global organizations. The partnership with Barings is in line with this approach. “
The partners assume that there is a “growing demand among companies for flexible capital solutions” in Europe. The partnership is anchored by Mubadala Investment Company (Mubadala) and will invest along with capital from MassMutual and Barings.
Barings Chairman and CEO Tom Finke said, “This partnership will leverage our significant origination and alternative credit capabilities to help strategic capital partners like Mubadala invest heavily. We are trying to take advantage of the direct credit opportunities of the middle class and are focusing on senior secured loans as borrowers shift from traditional bank financing to institutional investors to fund acquisitions and growth projects. “