شراكة مليارية بين مبادلة الإماراتية وGoldman Sachs
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00:00 The UAE exchange company is exploring the private credit market.
00:07 The private credit market is a book that banks use to do loans.
00:16 The market has been in a financial crisis for years, and we have seen a rise in the private credit market.
00:30 The banking crisis in the US has also caused a rise in the funds that go to the private credit market.
00:43 At the same time, there was a great demand for borrowing from these private books.
00:49 Today, the exchange company will give Goldman Sachs a billion dollars to expand and establish a partnership
00:58 in private credit in the Asia Pacific region, with the focus on India.
01:06 These countries and regions are very promising for the private credit market.
01:13 Even if we look at other regions, the amount of assets managed under the umbrella of private credit
01:21 is the largest in North America, reaching 912.7 billion dollars.
01:28 Before I talk about this amazing growth that we have seen over the past few years in private credit,
01:36 why might an investor choose the private credit market?
01:40 This is mainly related to the interest rates.
01:44 Although these books were not very famous in the Middle East,
01:49 they were internationally very popular for several reasons.
01:54 First, these books lend more than the interest rates given by banks.
02:03 If there is a company or investor who wants to borrow from these books,
02:08 he will borrow on interest rates higher than the syndicated loans,
02:12 or the loans collected from banks, with a difference of 200 to 300 points.
02:17 Therefore, the difference is huge.
02:19 The other thing that motivates investors to invest in private credit is that it represents a kind of hedging,
02:28 or a kind of shifting of the trends in the global markets.
02:32 This gives a kind of diversification in the assets for investors.
02:37 Let's not forget that the interest rates are floating rate,
02:41 which means that when central banks started the journey of raising interest rates,
02:45 there was a lot of interest in these books,
02:49 because the interest rates that were borrowed were also rising,
02:54 but a higher rate than what we have seen from banks.
02:58 But this does not mean that it comes without risks,
03:01 especially since its liquidity is much less than other assets.
03:06 However, if the investor is looking for attractive returns,
03:11 this may be a positive idea.
03:13 We found that many investors were showing great interest in it.
03:17 As we have mentioned, the number of clients who borrowed from these funds and these books was growing,
03:24 especially since in the United States,
03:27 many banks in the past two years did not want to borrow the same interest rates,
03:34 fearing the economic situation.
03:36 Therefore, these borrowers were more likely to resort to these funds.
03:41 Meanwhile, they had a clear interest in private credit,
03:45 not only this year, but since 2023,
03:49 and they are betting on private credit for the reasons we mentioned,
03:54 because it provides positive returns,
03:56 because it also has floating rates,
03:59 and because it is also a source of diversification for the investment portfolio.
04:06 The biggest risk may be if there is an economic collapse in the area where we have this great dependence on private credit.
04:15 Until now, we do not know how it is possible to respond to these books
04:20 if there is an economic collapse and there are a large number of clients who have withdrawn from their loans.
04:27 But in any case, the private credit is a very promising market.
04:30 We have seen it fluctuate over the past few years.
04:33 And as for the exchange, it is like many other sovereign wealth bonds,
04:37 which want to bet on diversifying income sources and achieving high interest rates from a set of assets.