Janus Henderson reaches second close on shariah-compliant MENA private credit fund

Janus Henderson’s shariah-compliant MENA Private Credit Fund IV has reached USD 191 mn in commitments at its second close, meeting nearly two-thirds of its USD 300 mn target, the asset manager said in a statement (pdf). It is running behind schedule, though: When the fund held its first close at USD 125.5 mn in September 2025, Janus Henderson said it expected a second close by end-2025 and a final close by mid-2026. The firm did not give a new date for the final close.

Who’s in: The new commitments came from institutional investors and family offices in Saudi Arabia and the UAE, though the firm did not disclose their names. The first close was anchored by SIDF Investment Company, Saudi Venture Capital Company, and Abu Dhabi Catalyst Partners, a joint venture between Mubadala Capital and Alpha Wave Global.

What the money is for: The fund plans to write 10-12 tickets of USD 15-50 mn each. They will mostly go to profitable mid-market companies in Saudi Arabia and the UAE to finance growth, acquisitions, refinancings, and shareholder exits.