Saudi Wealth Fund Joins Qatar, UAE Peers in Private Lending Rush
- Fund aimed at mid-size Mideast firms looking to get financing
- Private credit globally has ballooned into $850 billion market
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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 on Tuesday. Yaser Moustafa, senior managing director at NBK Capital, said in an interview that the vehicle will also involve a “very prominent” U.S. family office and large institutional investors.