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08/02/2018 06:31 AST
NBK Capital Partners, an alternative investments firm, said it has closed its real estate fund with $75 million (Dh275 million) in fund commitments, raised primarily from prominent regional institutions, pension funds, family offices and high net worth individuals.
DIFC-based NBK Capital Partners - which has advised on investments exceeding $1 billion - is aggregating a portfolio of Sharia-compliant real estate assets acquired primarily through sale-leaseback transactions across the logistics, health care and education sectors. It aims to capitalise on attractive underlying market dynamics such as the rise of e-commerce and regional demographic trends driving demand for health care and education. The firm is targeting a final closing for the fund by the end of 2018, with $150 million in total commitments and $50 million in co-investment commitments.
NBK Capital Partners Real Estate Fund I's first investment is a $95 million state-of-the-art K-12 education campus in Dubai, UAE, long-leased to an international curriculum school.
"This all-weather conservative fund focuses on income-generating assets in non-cyclical sectors and is designed to provide strong and stable returns for our investors. The aim is to build on our successful track record, now totalling 17 profitable exits from 29 investments, the highest number by an alternative investments firm in the region over the past decade," Yaser Moustafa, Senior Managing Director at NBK Capital Partners said in a statement.
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