Gulf Capital to start USD300m credit fund

15 Jun 2011

(MENAFN) Gulf Capital Chairman, Hareb Al Darmaki, said that in order to block the liquidity gap in the market caused by the global financial crisis, the Abu Dhabi based alternative asset management company would start a credit fund of USD300 million for the Middle East and Turkey, reported The National.

Al Darmaki added that the fund would be the largest one to launch in the Middle East; it would provide fast growing businesses and investors with credit and acquisition finance.

He also said that credit expansion from traditional avenues was still limited, especially that bank lending in the region was restricted by the stresses of corporate restructuring and low appetite for new risk.

It is worth noting that Gulf Capital started negotiations with pension funds, sovereign wealth funds and other institutional investors, in the Gulf and globally, that are interested in investing in the fund.

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