John Bakie
The fund expects to see significant opportunities as a result of the covid-19 pandemic.
It is hoped incoming policy makers will gain a greater understanding of the role private credit can play in economic recovery.
The fund has secured the backing of an insurance company and pension fund in Italy.
Direct lending in Europe has been driven by bank consolidation and is set to grow further following the covid-19 pandemic.
The Paris-based firm believes German direct lending offers considerable opportunities.
Opportunities are presenting themselves to a private debt industry that appears to have shown resilience through the health crisis, but challenges remain.
The fund will track and report its impact performance to investors.
The deal will see institutional investor capital deployed alongside HSBC’s mid-market loans.
The vehicle is the first NBK Capital Partners fund to offer credit compliant with sharia rules.
The firm believes investors will seek more exposure to the strategy in the near future due to present market conditions.