Dubai – Mubasher: NBK Capital Partners on Wednesday announced its successful exit from a $157 million private debt fund.
The divestiture will bring the company a 17% gross Internal Rate of Return (IRR) on investments in the UAE, Saudi Arabia, Kuwait and Turkey.
“The closure of NBK Capital Mezzanine Fund I represents the successful exit of eight investments in the portfolio for NBK Capital Partners,” the company revealed in a statement.
Raised in 2009 as a hybrid of debt and equity financing, the NBK Capital Mezzanine Fund I “was a pioneer for flexible long-term direct lending launched in the wake of the global financial crisis to meet the financing needs of mid-sized firms unable to secure attractive terms with banks constrained by regulatory and structural changes.”
This new milestone “builds on our track record that now totals 17 realisations from 29 investments, the highest number of profitable exits by an alternative investments firm in the region over the past decade,” according to NBK Capital Partners senior managing director Yaser Moustafa.
The fund named NBK Capital Mezzanine Fund I ranks among the top performing private debt funds.
NBK Capital Partners will remain focused on maintaining this level of success for its investors across our private equity, private debt, and real estate interests,” the top official added.
NBK Capital Partners is the alternative investments arm of NBK Capital. It also acts as an advisor on providing flexible capital to mid-sized companies in the Middle East and North Africa (MENA).
