Alpha Dhabi lights up its Q1-2023 with Dh7.3b net profit from 161% rise

Alpha Dhabi lights up its Q1-2023 with Dh7.3b net profit from 161% rise

Dubai: The Abu Dhabi investment group Alpha Dhabi’s Q1-23 net profit is up a substantial 161 per cent year-on-year – and totalling an equally eighty Dh7.3 billion. With investments cutting into multiple sectors, including real estate and hospitality, Alpha Dhabi’s total assets weighed in at Dh120.6 billion end March. That’s higher by 129 per cent from a year ago. The company is already charting out more high growth avenues. There is the venture with Mubadala to invest in ‘global credit opportunities’. The plan is to deploy up to Dh9 billion (around $2.5 billion) over the next five years, through ‘leveraging Mubadala’s long-term and strategic partnership with Apollo, the world’s largest alt-asset managers, to access high-quality private credit investment opportunities’. Mubadala will hold 80 per cent ownership in the ADGM-based JV, with the remaining with Alpha Dhabi. “We have started this year robustly, with our diversified portfolio delivering results which continue the momentum from last year,” said Hamad Al Ameri, CEO of Alpha Dhabi Holding. “We will continue to develop our core verticals both organically and through additional investment and acquisition. We continue to deploy capital effectively in value-accretive opportunities that support the market leadership of our portfolio companies.” Revenues during