Dubai’s Shuaa Capital launches $200mln fund | ZAWYA MENA Edition

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