Dubai’s Shuaa Capital launches $200mln fund | ZAWYA MENA Edition
- Date: 11-Oct-2020
- Source: Zawya
- Sector:Financial Markets
- Country:UAE
Dubai’s Shuaa Capital launches $200mln fund | ZAWYA MENA Edition
The company had earlier launched three shariah-compliant funds, the Shuaa High Yield Sukuk Fund, Nujoom Aggressive Fund and Nujoom Balanced Fund.New fundThe new fund is targeting "special situations“ in the Gulf Cooperation Council (GCC) region. It is a closed-ended fund with a four-year tenure, targeting "mid-teen returns“ in the private debt market."The key objective [of the fund]“¦ is to generate income yield and preserve capital, through a well identified mandate covering targeted and strategic investments in senior, mezzanine and unitranche Sharia-compliant financing for corporates and developers operating in the GCC region,“ the company said.Jassim Alseddiqi, chief executive officer of Shuaa, said there are still "attractive opportunities“ in the region despite the challenging market conditions."Against the backdrop of a changing regulatory and business environment, several project deals and assets in liquidity-hit