Abu Dhabi's Mubadala, Ares set up $1bln JV to invest in credit secondaries

Abu Dhabi's strategic investor Mubadala Investment Company and Ares Management Corporation have set up a joint venture with approximately $1 billion, to invest in global credit secondaries opportunities. With this Ares, a global alternative investment manager, extends its credit and secondaries platforms, which respectively had approximately $214 billion and $22…