Abu Dhabi-based alternative investment manager Shorooq Partners has made the first close of its second $100m private credit fund, though the exact amount raised in this initial closing was not disclosed.
Its latest private credit fund was launched in partnership with IMM Investment Global, a subsidiary of the $6bn Korean private equity and venture capital firm IMM Investment, which will see IMMG joining the fund as a minority partner.
Shorooq’s inaugural fund primarily invested in startups within the MENA region, including hydroponic agribusiness Pure Harvest and Tamara, a Saudi shopping and buy now, pay later platform.
Source: Private Equity Wire
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