Asset manager Janus Henderson raised USD 125.5 mn in the first close of its MENA Private Credit Fund IV, according to a press release. The fund is targeting a final close of USD 300 mn by mid-2026, with a second close due by end-2025. Saudi players and a Mubadala-backed JV and anchored the first close.

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The details: The GCC-focused, shariah-compliant private credit fund, is backed by the SIDF Investment Company and Saudi Venture Capital Company, along with Abu Dhabi Catalyst Partners — a joint venture between Mubadala Capital and Alpha Wave Global. It also attracted interest from regional institutions and family offices, the statement said.

The bigger picture: The fund aims to help bridge a USD 250 bn SME financing gap across MENA, where traditional banks remain cautious lenders. It will offer non-bank, flexible financing for growth, refinancing, recapitalizations, and acquisitions, targeting 10-12 transactions worth USD 15-50 mn each over its eight-year term.

This marks Janus Henderson’s third Islamic finance vehicle under its ADGM-based Emerging Markets Private Investments arm, as the firm deepens its presence in the region’s growing alternative finance market.

IN OTHER INVESTMENT NEWS- Thabet investment Company partnered with Singapore-based Five Keys Investment to launch Evergreen Capital, a fintech firm based in Riyadh with SAR 375 mn (USD 100 mn) in capital, it said on LinkedIn on Monday. The new company will focus on offering financing solutions for Saudi small and medium enterprises (SMEs) to help reduce the sector’s SAR 300 bn funding gap, the Saudi Gazette reported on Monday.

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