{"id":577071,"date":"2022-11-08T04:00:09","date_gmt":"2022-11-08T04:00:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/the-uaes-chimera-capital-enters-private-credit-market\/"},"modified":"2022-11-08T04:00:09","modified_gmt":"2022-11-08T04:00:09","slug":"the-uaes-chimera-capital-enters-private-credit-market","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/the-uaes-chimera-capital-enters-private-credit-market\/","title":{"rendered":"The UAE\u2019s Chimera Capital enters private credit market"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Chimera Capital enters the private credit space:<\/strong> Our friends at Chimera Capital have launched a USD 2 bn global private credit fund with US alternative asset manager <a href=\"https:\/\/www.alphawaveglobal.com\/\">Alpha Wave Global<\/a>, the company said in <a href=\"https:\/\/ent.news\/2022\/11\/148-id.pdf\">a statement (pdf)<\/a> yesterday. The fund will primarily lend senior secured, floating-rate private loans to private companies in the US, Canada, UK, EU, and Australia. This comes as the global market share for private credit funds increases as they eat into banks\u2019 market share amid an environment of high interest rates and aggressive monetary tightening, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-07\/abu-dhabi-royal-takes-to-private-credit-with-2-billion-warchest?srnd=premium-middle-east#xj4y7vzkg\">Bloomberg<\/a> writes.<\/p>\n<p><strong>Goldman dims outlook for S&P 500 earnings growth on tough earnings season: <\/strong>Goldman Sachs has cut its growth outlook for S&P 500 companies\u2019 earnings in 2023 from 3% to 0% as the economic slowdown pressures margins, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-07\/goldman-cuts-s-p-500-earnings-estimate-citing-margin-headwinds?srnd=premium-middle-east\">Bloomberg<\/a> reports. The forecast comes following a turbulent third quarter for companies listed on the benchmark index, which saw margins contract for the first time since the pandemic. Goldman is penciling in 7% growth for companies\u2019 earnings-per-share this year, and 5% growth in 2024. The outlook is much worse if a recession hits sometime next year: Goldman forecasts S&P 500 companies\u2019 earnings to fall another 11% in that scenario.<\/p>\n<p><strong>ESG debt is standing its ground amid global headwinds:<\/strong> The Institute of International Finance (IIF) expects USD 1.3 tn worth of ESG debt to be issued this year, down slightly from USD 1.5 tn in 2021, despite volumes of conventional debt issuance tanking on tightening financial conditions, according to <a href=\"https:\/\/www.iif.com\/portals\/0\/Files\/content\/SDM_November2022_vf.pdf\">a new report (pdf)<\/a>.<\/p>\n<p><strong>The ESG market has exploded this decade:<\/strong> The total market for ESG debt reached USD 4.5 tn in 3Q 2022, three times larger than two years\u2019 prior, according to IIF figures.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table table-striped markets-table'>\n<tbody>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,444<\/p>\n<\/td>\n<td>\n<p>+2.4% (YTD: -4.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 24.28<\/p>\n<\/td>\n<td>\n<p>Sell 24.37<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 24.23<\/p>\n<\/td>\n<td>\n<p>Sell 24.33<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>13.25% deposit<\/p>\n<\/td>\n<td>\n<p>14.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,599<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: +2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>10,607<\/p>\n<\/td>\n<td>\n<p>+1.2% (YTD: +25.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,379<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +5.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,807<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: -20.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,300<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: -1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,709<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: -13.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 98.01<\/p>\n<\/td>\n<td>\n<p>-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 6.76<\/p>\n<\/td>\n<td>\n<p>+5.7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,678.00<\/p>\n<\/td>\n<td>\n<p>+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 20,685<\/p>\n<\/td>\n<td>\n<p>-2.0% (YTD: -55.0%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>THE CLOSING BELL-<\/strong><\/p>\n<p><strong>The EGX30 rose 2.4% at yesterday\u2019s close<\/strong> on turnover of EGP 1.15 bn (5.8% above the 90-day average). Local investors were net sellers. The index is down 4.2% YTD.<\/p>\n<p><strong>In the green: <\/strong>GB Auto (+5.2%), Telecom Egypt (+5.0%) and Talaat Moustafa Holding (+4.7%).<\/p>\n<p><strong>In the red: <\/strong>Qalaa Holding (-0.4%), Palm Hills Development (-0.4%) and Ibnsina Pharma (-0.3%).<\/p>\n<p><strong>Asian markets are mixed this morning<\/strong>, with shares in China in the red and bourses elsewhere seeing decent gains. Markets in Europe and the US are broadly expected to open in the green later today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chimera Capital enters the private credit space: Our friends at Chimera Capital have launched a USD 2 bn global private credit fund with US alternative asset manager Alpha Wave Global, the company said in a statement (pdf) yesterday. The fund will primarily lend senior secured, floating-rate private loans to private companies in the US, Canada, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[350,7106,302,72,7229,119,122,121],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577071","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-chimera-investment","tag-debt","tag-earnings","tag-enterpriseam","tag-esg","tag-financial-markets","tag-planet-finance","tag-sp-500","wpautop","entry"],"acf":{"mongo_id":"420d33d9-5123-471d-aefd-2a8128ab18f5","is_powered_by":true,"section_story_id":"4fa024ab-8795-4f17-aa7a-e45dddbfe688","story_type":"1","photo_url":"","photo_position":"above","related_issue":[577052],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The UAE\u2019s Chimera Capital enters private credit market - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/the-uaes-chimera-capital-enters-private-credit-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The UAE\u2019s Chimera Capital enters private credit market\" \/>\n<meta property=\"og:description\" content=\"Chimera Capital enters the private credit space: Our friends at Chimera Capital have launched a USD 2 bn global private credit fund with US alternative asset manager Alpha Wave Global, the company said in a statement (pdf) yesterday. 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The fund will primarily lend senior secured, floating-rate private loans to private companies in the US, Canada, [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/the-uaes-chimera-capital-enters-private-credit-market\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-11-08T04:00:09+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/the-uaes-chimera-capital-enters-private-credit-market\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/the-uaes-chimera-capital-enters-private-credit-market\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"The UAE\u2019s Chimera Capital enters private credit market","datePublished":"2022-11-08T04:00:09+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/the-uaes-chimera-capital-enters-private-credit-market\/"},"wordCount":415,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["Chimera Investment","debt","earnings","EnterpriseAM","ESG","Financial Markets","Planet Finance","S&amp;P 500"],"articleSection":["PLANET FINANCE"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/the-uaes-chimera-capital-enters-private-credit-market\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/the-uaes-chimera-capital-enters-private-credit-market\/","name":"The UAE\u2019s Chimera Capital enters private credit market - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2022-11-08T04:00:09+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/the-uaes-chimera-capital-enters-private-credit-market\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/the-uaes-chimera-capital-enters-private-credit-market\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/the-uaes-chimera-capital-enters-private-credit-market\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"The UAE\u2019s Chimera Capital enters private credit market"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":606535,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/18\/abu-dhabis-chimera-launches-usd-50-bn-alternative-investment-manager\/","url_meta":{"origin":577071,"position":0},"title":"Abu Dhabi\u2019s Chimera launches USD 50 bn alternative investment manager","author":"enterpriseam admin","date":"18 September 2023","format":false,"excerpt":"Chimera Investment to launch one of MENA\u2019s biggest investment management firms: Our friends at Abu Dhabi-based Chimera Investment are launching a global investment manager with more than USD 50 bn of assets under management (AUM), according to a press release ( pd f). The private-markets focused firm, dubbed Lunate, is\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1067.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542982,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/chimera-closes-usd-10-bn-venture-capital-fund\/","url_meta":{"origin":577071,"position":1},"title":"Chimera closes USD 10 bn venture capital fund","author":"enterpriseam admin","date":"26 January 2022","format":false,"excerpt":"Our friends at the UAE\u2019s Chimera closes fundraising for one of the largest funds in VC history: Our friends at Abu Dhabi-based investment firm Chimera Capital have closed their second venture capital fund at USD 10 bn, according to a company press release (pdf). 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Abu Dhabi-based investment firm Chimera Investment completed an acquisition of a 25% stake in Sawiris family-owned\u00a0 firm Gemini Global Development Egypt, multiple sources with first-hand knowledge of the transaction confirmed to Enterprise. 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