Dubai: Gulf Capital said on Tuesday it has closed a long-term Dh500 million syndicated revolving credit from its existing lenders.
The new four-year facility will boost the firm’s liquidity and help it maintain its strong investment pace across the Middle East, the alternative asset manager said in a statement, report agencies.“We believe there is a unique window today to secure promising investments at attractive valuations in high growth sectors across the Middle East,” Dr Karim El Solh, Chief Executive Officer of Gulf Capital said.
“Gulf Capital has been particularly active over the last 18 months, with the successful closure of seven new and follow-on investments at the portfolio companies’ level across our private equity and private debt platforms. The firm has been equally productive on the exit side, having secured and closed five exits during the same period. We are looking forward to a productive 2019 as we maintain our investment pace and continue to work on a number of strategic exits over the coming year,” El Solh said.
Wissam Daoud, Chief Financial Officer of Gulf Capital said: “Gulf Capital today has a robust balance sheet, and this new flexible line of credit will further enhance the Company’s liquidity and its ability to continue its investment activities across the region.”