NBK Capital Partners announced yesterday (pdf) that it has “successfully exited its inaugural USD 157 mn private debt vehicle,” the Mezzanine Fund I, divesting stakes in eight portfolio investments. “I am delighted with this milestone, which demonstrates the superior returns we continue to generate for investors and validates the tremendous opportunity for private debt strategies in the region,” NBK Capital Senior Managing Director Yaser Moustafa said. “It builds on our track record that now totals 17 realizations from 29 investments, the highest number of profitable exits by an alternative investments firm in the region over the past decade.” Mezzanine II held a diverse debt portfolio that included investments in various UAE- and Turkey-based businesses. LPs included HNWIs, pension funds, regional endowments, and family offices. “We remain focused on maintaining this level of success for investors across our private equity, private debt, and real estate interests,” Moustafa said.

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