Barings Mubadala Enterprise (BME) and its capital partners aim to provide $3.5 billion in financing over the next 18 months to help meet growing corporate demand for flexible capital solutions in Europe.
The partnership is anchored by Mubadala Investment Co, which will invest alongside MassMutual and Barings' capital.
BME will focus on opportunities in the United Kingdom, France, Benelux and the Nordics, it said.
Last week Swiss bank Credit Suisse and the Qatar Investment Authority (QIA) announced they were jointly setting up a multi-billion dollar direct private credit business.
(Reporting by Saeed Azhar, editing by Louise Heavens)
