GULF Capital, an alternative asset manager, plans to launch a $250m to $300m credit fund.
The Gulf Credit Partners Fund will target returns of 15 to 17 percent, investing in private equity-backed acquisitions and growth capital for companies where debt finance is an attractive alternative to equity.
The fund, targeted at institutional investors, will be the largest mezzanine and credit finance fund in the Middle East, according to Karim El Solh, the firm’s chief executive officer.
The launch is currently still pending regulatory approval but is expected to take place before the end of the year, according to reports.