Saudi alts manager expands into Australian private | Australian Markets
Sidra Capital, a Saudi Arabia-based various investments manager, has launched a new private credit investment fund targeted on Australia’s mining and power sector.
The Sharia-compliant Sidra Asia Pacific Private Investments Sub-Fund I will likely be domiciled in Singapore and managed by its native staff.
The multi-asset, low-volatility fund invests US$15 million (AU$22.5 million) in Australia’s mining sector, offering buyers, Sidra says, a “secured and stable revenue stream over a three-year period, underpinned by strong tailwind in the Australian mining sector”.
The fund targets a return of 9.75% each year and is secured by a fleet of mining gear.
Sidra Capital vice chairman Ghassan Soufi mentioned the newly launched fund supplies private buyers with entry to “a well-developed and refined strategy”.
He added that the asset manager stays “cautiously optimistic about opportunities in Asia Pacific, including Indonesia, Singapore, and Australia, which are set to benefit from shifting global supply chains amidst current global economic headwinds”.
“Specifically, Australia presents a compelling market with high-yield opportunities, supported by a well-established legal framework and a strong investment ecosystem comprising both local and international institutional and private investors.”
Azlan Firman, Sidra’s head of investments APAC, added: “We proceed to refine our methods to adapt to the continued developments in world markets, and we constantly search to determine private credit alternatives that come up from present financial shifts.
“These efforts ensure we maintain a competitive edge and deliver real value to our investors.”
Founded in 2009 and headquartered in Jeddah, Saudi Arabia, Sidra Capital is a Shariah-compliant asset manager focuses on various asset lessons, together with income-generating world real estate, private finance, and private equity.
Sidra oversees more than SAR16 billion (AU$7.5 billion) in belongings and SAR11.5 billion (AU$4.8 billion) in real estate globally.
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