Chimera Capital raises a trust fund of 7.34 billion dirhams

Chimera Capital raises a trust fund of 7.34 billion dirhams
Chimera Capital raises a trust fund of 7.34 billion dirhams

Chimera Capital raises a trust fund of 7.34 billion dirhams

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Abu Dhabi-based Shemera Capital Investments announced yesterday that it is launching a US$2 billion (7.34 billion dirhams) private debt fund in partnership with US-based Alpha Wave Global for alternative investments. The company added that it will manage the fund, which will be called Alpha Wave Private Credit, in partnership with Alpha Wave Global, and that the fund will seek to provide privately backed initial loans at variable rates to companies and the size of the fund be global but primarily focused on the United States, Canada and the United Kingdom, and Australia.

Syed Basr Shuaib, Chief Executive Officer of Chimera, said the fund is part of the company’s ambition to continue to actively contribute to “strengthening Abu Dhabi’s position as a global hub for the provision of capital solutions”.

Royal Group’s Chimera and Alpha Wave Group, formerly Falcon Edge Capital, closed its $10 billion venture capital fund in January.

Seif Fikri, CEO of Shemera, said that the announcement of the new fund came after the establishment of the credit strategy department in the company “and against the background of the strong growth of venture capital activities and investment activity also in listed shares like the rest of the consulting services the company.”

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