Dubai-headquartered fund manager NBK Capital Partners has closed two mezzanine investments in Saudi Arabia and Turkey from its second mezzanine fund.
The firm has financed a group of domestic investors’ acquisition of a K-12 American curriculum school, Qimam El Hayat International School, in Saudi Arabia. The private school currently serves 2,500 students from low- and mid-income expatriate families. The investors will upgrade the facilities and management team of the school.
“Qimam El Hayat has earned a strong reputation amongst peers and in its target market thanks to its competitive offering. Our involvement in the investment is consistent with our goal of investing in sectors that capitalise on the region’s young and growing population,” said Yaser Moustafa, senior managing director at NBK Capital Partners.
The second deal is a direct lending investment in Turkish firm Perkon, which operates in the automatic identification and data capture industry. The firm provides products such cash registers, POS machines, electronic scales and barcode scanners. The proceeds will be used to introduce cutting-edge payment and identification solutions domestically and internationally.
“Perkon is a strong technology brand built on a comprehensive product portfolio, unmatched after-sales support and an exceptional distribution network in the domestic market. Our investment is consistent with our strategy of investing in the leaders of innovative sectors with solid growth potential,” said Cem Bayulgen, managing director at NBK Capital Partners.
NBK Capital Partners Mezzanine Fund II reached a first close on $110 million in June 2016. It provides capital to fast-growing consumer market companies in the MENA region. The typical ticket size of investments ranges between $15-30 million. Its predecessor, Mezzanine Fund I, was launched in 2009 and had a total corpus of $157 million.
NBK Capital Partners is a regional alternative investment group which is part of investment bank NBK Capital and is based in Dubai with a presence in Bahrain, Kuwait and Turkey. It has launched two equity funds and two mezzanine funds to date.