BlackRock, Mubadala Unwind Partnership for Asia Private Credit

BlackRock Inc. and Mubadala Investment Co. have mutually agreed to unwind their Asian private credit partnership that focuses on investments in China and Indonesia due to challenges in sourcing deals, according to people familiar with the matter.

Under the partnership, which started in 2023, the Abu Dhabi state-owned investment firm was to match every dollar that BlackRock agreed to put in, said the people, who requested not to be named because the information is private.