News

Ruya Partners launches private credit fund

Abu Dhabi-based private capital firm Ruya Partners has launched a private credit fund through the Abu Dhabi Global Market (ADGM). The fund has been classified as a private credit fund under the ADGM’s new private credit fund framework. According to the firm, the fund aims to source bespoke financing to private sector corporates in the Mena region. The new rules for private credit funds were introduced in May and came almost a year after Dubai took similar steps to capitalise on the growth of the private credit sector. “The recent enhancement by ADGM to its regulatory framework to permit private credit funds has enabled fund managers such as Ruya Partners to set up their business within ADGM and allow them to establish their regional presence in Abu Dhabi,” said Arvind Ramamurthy, chief of market development at ADGM. © 2023 funds global mena

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