Dubai – Mubasher: Shuaa Capital has launched 'Shuaa Financing Opportunities Fund' worth $200 million to generate income yield and preserve capital, according to a press release on Sunday.
Focusing on strategic investments in the senior, mezzanine, and unitranche Sharia-compliant financing in the GCC, the closed-ended Fund with a four-year tenor has attracted $68 million from investors.
The Financing Opportunities is the fourth fund launched by Shuaa in 2020, aiming to attract capital from investors, and the company has collected $140 million in the last three months.
The launch of a new fund came after the company's success in implementing a number of financing and credit investments valued at $250 million, with mid-teen returns of c. 15%.
The Fund's investors base is expected to include regional and international limited partners, such as regional non-banking financial institutions, family offices, investment companies, and high net worth qualified individuals (HNWI).
The CEO of Shuaa, Jassim Alseddiqi, said: "Despite the challenging market conditions for borrowers, SHUAA believes that there are attractive opportunities in the GCC market that will generate appropriate risk-adjusted returns for its investors, in key sectors including healthcare, real estate, hospitality, construction, and shipping."
Meanwhile, the Deputy CEO and Group Head of Asset Management of SHUAA Capital, Mustafa Kheriba, commented: "The Fund is targeting mid-teen returns in the private debt market with stringent underwriting criteria to ensure downside protection for our investors."
It is noteworthy to mention that the company has recently launched three open-ended Sharia-compliant funds, which have secured commitments valued at $75 million.
