Abu Dhabi’s Gulf Capital Plans $300M Credit Fund

Jun 28 2011 | 11:03am ET

Abu Dhabi-based alternative asset manager Gulf Capital is planning to launch a $250-300 million credit fund by the end of 2011, providing growth capital to firms in MENA and Turkey.

The Gulf Credit Partners fund will be domiciled in the Caymans and regulated by the Central Bank of the UAE and will target returns of 15% per annum, reports the Khaleej Times. Gulf Capital will be the primary investor in the fund—which will invest in loans, bonds and convertibles—seeding it with up to $75 million.

Christopher Baines, who has joined the firm to manage the new fund, told a media roundtable the new fund “will fill an acute gap in the market for MENA financing by offering credit solutions to corporate and private investors as they grow the value of their businesses,” reports the paper.

Baines said that, unlike traditional asset-based lenders, the financing provided by Gulf Credit Partners could be based on the cash flows generated by the borrower:

“As such, the financings will be flexible using various structures to meet borrowers’ need including longer maturities and more deferred repayment dates than those typically seen in traditional lending.”

The new vehicle is part of Gulf Capital’s plan to increase its AUM to $1 billion in two years.


In Depth

Hedge Fund Veteran Peter Borish Talks Trading

Dec 17 2014 | 9:32am ET

Peter Borish says 2014 was “tricky” from a trading perspective. “The best...

Lifestyle

Cohen Donates $1.5M To GOP Governors Association

Dec 10 2014 | 7:13am ET

The Republican Governors Association raised close to $25 million from October 1...

Guest Contributor

Q&A With Daniel Gallancy: Institutional Interest In Bitcoin Is Growing Steadily

Dec 12 2014 | 7:54am ET

Daniel Gallancy is founder and CEO of SolidX, a provider of total return swaps for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.