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

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

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.