Distressed credit investor SC Lowy eyes Mideast opportunities with Abu Dhabi office | Reuters
Hong Kong headquartered SC Lowy, which invests in high yield and distressed credits, plans to open an office in the UAE capital Abu Dhabi amid growing opportunities in the Middle East region, its new regional head said on Monday.
"We are in the final stages, hopefully, of getting the final sign off from the regulatory bodies to open an office in Abu Dhabi Global Market (ADGM)," Berkay Oncel told Reuters in an interview, referring to the emirate's financial centre.
He added the firm decided to go with Abu Dhabi, although it was also considering Dubai's financial centre, because of Abu Dhabi's focus on alternative credit markets.
ADGM issued a regulatory framework to allow private credit funds earlier this month.
SC Lowy is also exploring setting up a private credit fund dedicated to the Middle East, North Africa and Turkey, with a possible target size of between $200 million and $500 million, Oncel said. He added talks were at an early stage.
No comments:
Post a Comment