Amwal Capital Partners launches $150m Shariah-compliant private credit fund

Gulf-based asset manager Amwal Capital Partners has launched a $150 million Shariah-compliant private credit fund focused on asset-backed lending across the Gulf region, Reuters reported.

The fund, which has already exceeded its initial close target, aims to deploy capital across 12 to 15 direct lending transactions over a five-year period. It will primarily target opportunities in Saudi Arabia and the United Arab Emirates, with a focus on tech-enabled platforms.

Sharif Eid, partner and co-head of fixed income at Amwal, said the fund has secured commitments from several leading regional institutional investors.

Amwal Capital Partners, established in Dubai in 2016, opened a Riyadh office in 2023 to expand its regional presence. Its investor base includes sovereign wealth funds, international financial institutions, and multi-family offices.

The fund’s strategy reflects growing demand for alternative financing options in the Gulf region, particularly in Shariah-compliant structures.