Gulf-based asset manager Amwal Capital Partners has launched a $150m Shariah-compliant private credit fund, targeting asset-backed lending opportunities across tech-enabled platforms in the region, according to a report by Reuters.
The fund, which has already surpassed its initial close target, will focus on direct lending transactions primarily in Saudi Arabia and the UAE, with plans to deploy capital across 12 to 15 deals over a five-year investment horizon.
According to Sharif Eid, Partner and Co-Head of Fixed Income at Amwal, the vehicle has attracted commitments from prominent regional institutional investors.
Established in Dubai in 2016, Amwal expanded its regional footprint with the opening of a Riyadh office in 2023. Its investor base includes sovereign wealth funds, international institutions, and multi-family offices.
