Mubadala Capital Announces Strategic Partnership with Silver Rock Financial
Mubadala Capital, the alternative asset management subsidiary of Mubadala Investment Company, announced that it has entered into a strategic partnership with Silver Rock, a premier credit asset manager with over $10 billion in assets under management (AUM). Under this agreement, Mubadala Capital will acquire a 42 percent stake in Silver Rock Financial LP through a combination of cash and stock, with an option in place that could take Mubadala Capital’s ownership to 50 percent over time.
The partnership aims to bolster Mubadala Capital’s presence in the credit sector, while providing Silver Rock Financial access to Mubadala Capital’s skills, global network, and capital base. As part of the partnership, Mubadala Capital also intends to commit over US $1 billion to Silver Rock funds over time, further underscoring its confidence in the partnership and the differentiated returns of Silver Rock Financial’s credit strategies.
Through the stock component of the transaction, Mubadala Capital will welcome three new equity owners into its asset management platform: Carl Meyer, CEO and CIO of Silver Rock Financial LP; Michael Haberkorn, Co-Founder and Co-Portfolio Manager of Silver Rock Financial LP; and M-Cor Capital, the Investment Arm of the Milken Family Office, further strengthening the partnership and alignment between Mubadala Capital and Silver Rock Financial. This marks the first time Mubadala Capital has welcomed external shareholders into the ownership of its alternative asset management business.
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Both firms will continue to operate independently, with Carl Meyer remaining as CEO and CIO of Silver Rock Financial LP. Silver Rock Financial’s management is committed to the long-term success of the partnership and is not taking any cash consideration as part of the transaction.
The transaction is expected to close by Q2 2025, pending regulatory and legal approvals.
Strategic Value for Mubadala Capital
This partnership aligns with Mubadala Capital’s strategic focus on diversifying and expanding its asset management capabilities and offerings. Through this partnership, Mubadala Capital will gain access to Silver Rock Financial’s credit expertise, while Silver Rock Financial benefits from Mubadala Capital’s global reach, industry network, and capital and investor base.
“We are excited to partner with Silver Rock, a firm that shares our vision of delivering tailored, innovative, and scalable solutions to investors globally, under-pinned by seeking best-in-class financial returns. This milestone transaction reflects Mubadala Capital’s evolution as a global alternative asset manager and underscores our commitment to building partnerships that drive long-term value,” said Hani Barhoush. “We are also honored to welcome Carl Meyer, Michael Haberkorn and M-Cor Capital, the Investment Arm of the Milken Family Office, as the first-ever external equity partners in Mubadala Capital. Bringing new partners into our ownership structure aligns with our vision to diversify and strengthen the Mubadala Capital platform, and we look forward to leveraging their insights and experience as we continue our growth trajectory.”
“This partnership with Mubadala Capital marks a significant milestone for Silver Rock Financial,” commented Carl Meyer, CEO and CIO of Silver Rock Financial LP. “Mubadala Capital has been a valuable business partner of Silver Rock Financial for years. This transaction deepens the relationship and allows us to tap into Mubadala Capital’s global reach, capabilities, and geographic and industry expertise. We believe this partnership with Mubadala Capital’s exceptional management team will grant us access to new opportunities as we deliver even greater value to our clients.”
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“This partnership with Mubadala Capital reflects our confidence in its vision for innovative, high-impact investments and scalability across asset classes,” said Josh Lobel. “Mubadala Capital’s commitment to leveraging its sovereign ownership in combination with its entrepreneurial mindset and now its expansion into multi-strategy credit resonates deeply with our own sense of strategy and view of the marketplace. This is an inspired next step in our long relationship with both Silver Rock and Mubadala Investment Company.”
Oscar Fahlgren, “Diversification and scale are becoming increasingly important qualities for alternative asset managers in order to deliver value for investors. This transaction extends Mubadala Capital’s ability to provide differentiated returns and capabilities to source and support a wider range of attractive investment opportunities from around the world.”
Governance and Independence
Mubadala Capital and Silver Rock Financial will continue to operate independently and maintain separate governance structures. Silver Rock Financial will retain autonomy of its day-to-day operations under its existing leadership. This structure ensures that both firms maintain their independent management of client relationships and operational integrity. Josh Lobel of M-Cor and Carl Meyer of Silver Rock Financial will join the Advisory Board of Mubadala Capital.
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Source – prnewswire
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