-
ALSO READ
MBS: Saudi Arabia's enigma
Saudi Arabia's inflation rate surged to 6.1% in July on VAT hike
Our strategic objectives remain unchanged despite Covid: Saudi ambassador
Oil refiners on the margin amid rising crude prices, muted demand
Saudi Arabia's wealth fund buys 2.04% stake in Reliance Retail Ventures
-
Saudi Arabia’s $400 billion Public Investment Fund became the latest sovereign investor to enter the growing market for direct lending.
The PIF, as it’s known, will anchor a $300 million Shariah-compliant fund started by Dubai-based private equity firm NBK Capital Partners, according to a statement. Yaser Moustafa, senior managing director at NBK Capital, said that the vehicle will also involve a “very prominent” US family office and large institutional investors.
Private credit has emerged as a popular asset class in recent years, ballooning into an $850 billion market as it attracted interest from the world’s largest sovereign investors.
NBK Capital, the private equity arm of Kuwait’s largest bank, said it completed the first closing of the credit fund, which will work with mid-sized Middle Eastern firms that are struggling to secure attractive financing.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU