NBK Capital Partners announced today that it has successfully closed its second mezzanine fund, NBK Capital Partners Mezzanine Fund II, with US $160 million in capital commitments, driven by strong demand from institutional investors and family offices.
NBK Capital Partners experienced team of investment professionals in Dubai, Istanbul and Kuwait will manage the Fund, which will maintain its predecessor’s (Mezzanine Fund I) proven investment strategy of providing capital to middle market companies in consumer-centric sectors in the MENA region by way of mezzanine investments. The team’s track record has been one of the most consistent in the region, having fully exited seven investments and thus, achieving top quartile returns for their first fund relative to global and emerging market comparable funds during the same period.
NBK Capital Partners Mezzanine Fund II has already invested in two companies: Qimam El Hayat, a private K-12 school in Riyadh that provides quality education to over 2,500 students and Perkon, the market leader in the Turkish payment systems / automatic identification and data capture (“AIDC”) industry. The team is in the process of completing the fund’s third and fourth investments and there are several other investments in various stages of due diligence.
Yaser Moustafa, Senior Managing Director at NBK Capital Partners, said, “We appreciate the support of our investors, who have identified middle market credit in the MENA region as a place where there are fantastic investment opportunities. NBKCP Mezzanine Fund II provides a well-defined route to such a market with an experienced team and a proven track record. This new pool of capital will be deployed in compelling risk-reward opportunities for our limited partners.”
Morgan Lewis represented NBK Capital Partners in the establishment of NBK Capital Partners Mezzanine Fund II and the Fund administrator is Maples Fund Services.