Gate Capital News Letter | Issue 771

The Private Department of Sheikh Mohammed bin Khalid Al Nahyan, together with its affiliate KSH Investments, the global strategic investment and asset management firm, announced the launch of the Pvt Dpt – LNG Fund (CEIC) IC. Reem Partners Limited will act as Fund Manager and KSH Investments as Strategic Consultant to the Fund.

The initial closing of the Fund is targeted at $1.2 billion and is part of the strategic agreement with MidOcean Energy and EIG to collaborate on capital formation, investment origination, and future energy and infrastructure opportunities across the United Arab Emirates and selected regional markets.

Apollo Global Management will acquire a minority stake in Mubadala Capital and commit capital across its investment strategies, the alternative asset management subsidiary of Abu Dhabi wealth fund Mubadala said on Monday.

The US investment group is expected to commit an aggregate $5 billion to Mubadala Capital’s investment strategies together with other strategic investors, which will join as minority shareholders, Mubadala Capital said in a statement. The deal deepens its ties with Mubadala.

Saudi Fisheries Co. finalized an agreement to sell a 51% stake in Al-Haridah Aquaculture Co. to Sara National Trading Co., according to a statement to Tadawul.

The company signed an addendum to the sale agreement and completed the issuance of electronic promissory notes by the guarantors.

The transaction’s financial impact is expected to be reflected in Q4 2026, subject to the completion of the necessary regulatory procedures, Saudi Fisheries said. It added that it would announce any material developments in due course.

Dubai has identified an AED40 billion ($10.8 billion) PPP portfolio comprising 30 projects across 10 strategic sectors, including water and sewerage, transport, healthcare, waste management, smart cities, housing, culture and public amenities.

Abu Dhabi too is advancing an equally significant programme, with an AED55 billion PPP pipeline comprising 24 infrastructure projects expected to come to market in 2026 and 2027.

Investcorp, a Bahrain-based alternative investment company, said its Saudi Pre-IPO Growth Fund has joined a consortium to acquire REDA Gulf Holding (RGH), the holding company of REDA Hazard Control.

EDGE has completed the acquisition of a controlling stake in CMD S.r.l., a leading Italian company specialised in the design, prototyping and development of advanced propulsion systems for automotive, marine and aeronautical applications.

The National Bank of Bahrain Group (NBB Group), comprising the  National Bank of Bahrain (NBB) and Bahrain Islamic Bank (BisB), has announced the successful execution of Bahrain’s first sustainable collateralised Murabaha, valued at over $50 million. The funds raised through the arrangement will be allocated against the Group’s ESG Asset Portfolio, further strengthening its mandate.

Marking a significant milestone for the Kingdom’s Islamic finance sector, the landmark transaction demonstrates how the Group’s conventional and Sharia-compliant banking capabilities can be applied within a single financing structure.

Vitalls, an Abu Dhabi, UAE-based developer of an AI-powered digital health passport platform, raised $1.5m in seed funding round with an option for an additional $1m.

EST Growmore, the venture investment arm of global conglomerate EST Group, made the investment.

Abu Dhabi–based conglomerate Alpha Dhabi Holding has committed $1 billion (AED3.67 billion) to Alpha Wave III, a global investment fund managed by Alpha Wave Global.

The commitment, which remains subject to approvals, comes as the Abu Dhabi-listed investment company expands its exposure to artificial intelligence (AI) and high-growth technology sectors.

Rently, the platform that lets tenants choose how and when they pay rent, has secured a $12 million growth credit facility from January Capital, a leading technology investment firm backing high-growth companies across Asia Pacific and beyond.

Norway’s Scatec and the European Bank for Reconstruction and Development (EBRD) have established a renewable energy investment platform in Egypt, with the multilateral lender committing up to $221 million to support the development of solar, wind and battery storage projects in the country.

Binghatti Capital Limited, an investment management firm regulated by the Dubai Financial Services Authority (DFSA), announced that the Binghatti Pinnacle Development Fund has completed its investment strategy, achieving a net internal rate of return (IRR) of 194% and a net multiple on invested capital (MOIC) of 2.3x for external limited partners.

Acwa signed a 30-year water purchase agreement with Dubai Electricity and Water Authority (DEWA) for the Hassyan Seawater Reverse Osmosis (SWRO) independent water project in Dubai, the company said in a statement to Tadawul on Wednesday.

Arab Sea Information System Co. signed a memorandum of understanding (MoU) with PayTabs Group, a growth maker company, to sell the former’s entire stake in its wholly owned subsidiary, Arab Sea Financial Co. (SeaPay), for SAR 35 million.

The UAE Ministry of Investment is accelerating its efforts to attract foreign direct investment by launching a new platform.

The new ‘Investment Opportunities’ platform has been designed to provide international investors with a single point of access to curated opportunities across the priority sectors designated by UAE stakeholders.

Overseas investors can also directly engage with the Ministry’s advisers via the platform to support their investment journey.

UAE-based venture capital firm BY Venture Partners has closed its third fund at $60 million, anchored by the Dubai Future District Fund (DFDF), with participation from MultiLane, Transmed Capital, the Idriss Family Office and other institutional and private investors. The close brings the firm’s reported assets under management, including co-investment vehicles, to more than $200 million.

Oman-based Phaze Ventures has launched two venture capital funds targeting more than $75 million combined, securing over $40 million in investor commitments to date. The funds will invest in artificial intelligence and deeptech startups in Oman and international markets.

The UAE-backed Pearl Petroleum has raised $500 million in debt through a senior secured bond issuance, priced at par with a 10.375% coupon, paid semi-annually. The bond has been secured on a pari passu basis with the claims of the other secured parties, namely the lenders under existing loan facilities including the US International Development Finance Corporation (DFC), the Bank of Sharjah, and Commercial Bank International.