Investment deals took the spotlight over the past week, together with several significant acquisitions.
Strong investor demand led the Africa Finance Corporation to raise US$400 million with its Shariah compliant commodity Murabahah facility to meet Africa’s infrastructure needs.
Saudi Arabia’s Shariah compliant debt crowdfunding platform Lendo secured a US$690 million warehouse facility led by JPMorgan.
US-based alternative asset manager Apollo invested another US$500 million in UAE’s Aldar Properties – which brings aggregate investment in Aldar led by Apollo to US$1.9 billion across four transactions since 2022.
On the acquisitions front, India’s supply chain finance tech provider Veefin Group bought TradeAssets, a blockchain-powered auction platform for trade finance assets based in the UAE, to expand its presence in the Middle East.
Bahrain’s Ahli United Bank, a subsidiary of KFH Group, sold its entire 35% stake in Oman’s ahlibank to a group of Omani investors.
New products
New plans include Lunate Capital launching Ghaf Benefits – an alternative end-of-service benefits fund platform (akin to a pensions savings scheme) for private sector employers and their employees across the UAE – offering a total of six conventional and Shariah compliant investment options.
Gulf Capital Investment launched the Shariah compliant Lulwa KD Money Market Fund.
The Saudi Capital Market Authority (CMA) approved the public offering of SEDCO Capital’s Saudi Freestyle Artificial Intelligence Fund and announced that Al-Waa for Financial Technologies has completed the requirements to begin experimenting with its robo-advisory service.
The CMA also seeks stakeholder feedback for proposed amendments to the regulatory environment for investment funds in Saudi Arabia.
Others
In other significant developments, alternative investments firm Arcapita opened its new Abu Dhabi office after receiving the Abu Dhabi Global Market license, with Group COO Stéphane Brown appointed as senior executive officer. Arcapita also partnered with DSV – Global Transport and Logistics to develop a 30,000 sqm warehouse in Dubai’s Jebel Ali Free Zone.
Fitch Ratings anticipates continued strong activity in Saudi Arabia’s debt capital market in 2025 driven by Vision 2030, deficit funding needs, economic diversification, maturing obligations and ongoing reforms.
Malaysia’s PMB Investment declared income distribution for PMB Shariah Global Equity Fund for the financial year ended the 31st January 2025, with total gross distribution of RM106,896.25 (US$24,130.82) representing a 1.8% yield for the year, with the fund generating a total return of 2.66% during the same period.
