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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.
The UK firm has created a dedicated share class for an unnamed SWF, which has committed $75m to its asset-based lending strategy.
Private credit is increasing in popularity across all emerging markets, but it is distressed opportunities in emerging Asia that are particularly attracting the interest of investors, an EMPEA report shows.
The firm says Brexit concerns have not impacted demand from investors outside the UK.

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