Saudi Public Transport Company turns to $100m loss in 2020

Saudi Public Transport Company turns to $100m loss in 2020
Saudi Public Transport Company turns to $100m loss in 2020

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s sovereign wealth fund is to be the anchor investor for a $300 million fund launched by NBK Capital Partners (NBKCP).

NBKCP is a subsidiary of Kuwait's biggest bank and the new $300 million shariah credit fund has been designed to provide capital solutions to mid-market companies across the Middle East.

The size of PIF’s stake in the fund was not disclosed, or the other institutional investors involved.

“We are proud to have secured the full faith and endorsement of one of the world’s largest and most respected sovereign wealth funds. For the PIF to play an anchor role on this $300 million NBK Capital Partners Shari’ah Credit Opportunities Fund is not only the highest endorsement of NBK Capital Partners’ strength and capabilities but a clear indication of increasing investor confidence in the region’s private credit sector and its enormous potential for growth,” Yaser Moustafa, Senior Managing Director of NBK Capital Partners, said in a press statement.

The fund plans to make 10 to 12 investments of between $15 million and $50 million over the next eight years.

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