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Wednesday, 15 June 2011

gulfnews : Gulf Capital ventures into credit business

Abu Dhabi-based Gulf Capital, one of the region's major alternative asset management firms with about $1 billion (Dh3.67 billion) worth of assets under management said Tuesday its venturing into credit business under which a $250 million to $300 million credit fund will be launched later this year following the regulators' approval.

The fund will focus primarily on providing liquidity and growth capital for regional companies and acquisition finance for private equity firms in the Middle East and Turkey.

"The fund has a ten-year maturity period and a five-year investment period. The targeted investors are sovereign wealth funds, insurance companies, pension funds and large family-owned businesses," Karim Al Solh, Chief Executive Officer of Gulf Capital, told a news conference in the capital.