Dubai-Mubasher: Gulf Capital said that the International Financial Corporation (IFC) invested AED 918.5 million ($25 million) in its second private debt fund, GC Credit Opportunities Fund II, according to a statement.

The fund seeks to provide tailored financing solutions to mid-market firms in MENA, Turkey and sub-Saharan Africa.

Gulf Credit Partners, the manager of Gulf Capital’s private debt funds, will be investing in companies that generate revenues between $10 million and $200 million, as well as operating in growth sectors such as the healthcare, education and power.

The fund held a first closing in January 2016 and targets a final close of $250 million (AED 925 million) by the end of the year.