Qatar’s $524 Billion QIA Warns Private Credit Is Getting Crowded

As one of the hottest asset classes right now, private credit has drawn major interest from the Middle Eastern sovereign wealth funds, including Mubadala Investment Co. and Abu Dhabi Investment Authority. Their counterpart in Qatar, however, appears to be taking a more cautious view.

“It’s becoming a very crowded market,” said Mohammed Al Sowaidi, head of the $524 billion Qatar Investment Authority. One of the major pitfalls when investing in private credit is that it may look like a credit piece but in reality it’s more of an equity story, Al Sowaidi said.