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LPs plan to maintain their allocations to the asset class and rank a strong GP track record as the most important factor in due diligence.
Yacine Mancer, credited with raising a substantial amount of capital from the Middle East, has departed the firm where he spent more than seven years.
The firm’s sharia-compliant financing is the third from its second mezzanine fund, which has a target return similar to the 17% achieved by the first fund.
The $157m 2009-vintage vehicle targeted mid-sized companies in the UAE, Saudi Arabia, Kuwait and Turkey.
The Abu Dhabi-based manager’s second private debt fund has completed transactions in Egypt, East Africa and Turkey.
The Dubai-based fund manager has collected $160m for the vehicle, which will target mid-market companies in consumer-centric sectors.
Just 1% of the private debt capital raised in the first half of the year went to Africa-focused funds.
View the latest capital raise.
The UAE-based investment firm recently announced it is launching a debt fund and has already seeded the offering.
The world’s third-largest sovereign wealth fund by assets, plans to hire investment professionals with specific regional focus.

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