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The vehicle is the first NBK Capital Partners fund to offer credit compliant with sharia rules.
The Los Angeles firm has raised capital for its fifth Europe-focused debt fund.
Set up by former Commonwealth Bank of Australia executives, the firm has attracted backing from a cornerstone investor as it seeks A$500m for its maiden vehicle.
The firm believes investors will seek more exposure to the strategy in the near future due to present market conditions.
The fund was launched following the outbreak of the covid-19 pandemic and will look for niche credit investments.
The Miami-headquartered asset manager plans to launch a $300m private debt vehicle in Q1 2021.
The firm has already raised most of the capital and just attracted a $30m commitment from Rhode Island.
The Hong Kong-and Singapore-based manager’s fundraising is progressing well as LPs eye Asia’s recovery from the pandemic.
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Our second annual ranking of the world’s largest institutional private debt investors.
But investors express concern over shifting terms, with a significant minority worried about the extent to which GPs are using credit lines.
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