Dubai – Mubasher: Gulf Capital on Wednesday announced that its private debt fund, Gulf Credit Opportunities Fund II, had invested $46 million (AED 170 million) in three transactions during the fourth quarter of 2017.

Investments aimed at supporting corporate growth plans in Egypt, Sub-Saharan Africa and Turkey, according to a company statement.

“Our investment strategy to fund well-managed mid-cap companies operating in defensive sectors in the Middle East, Turkey and Africa (META) region has proved to be highly effective, both for our business partners and our investors,” said Karim El Solh, Gulf Capital’s CEO.

The first $15 million transaction was closed with one of the leading logistics company in Eastern Africa, Walid Cherif, Gulf Capital’s senior managing director, commented.

The second $22 million transaction supports the growth and operational needs of leading liquefied petroleum gas (LPG), gasoil storage and delivery services company in Egypt, the top official added.  

“With a total of AED 1,744 million ($471.35 million) in assets under management in its private debt financing business, Gulf Capital remains the largest provider of private debt outside the traditional banks in the region,” Gulf Capital concluded.