The Maples Group is pleased to announce that it has been selected to support Ruya Private Capital I LP (“the Fund”), a private credit fund managed by Ruya Partners Limited and based out of the Abu Dhabi Global Market (“ADGM”). Ruya Partners is an independent, partner owned private capital investment firm that provides customised financing solutions for private-sector firms in developing markets. The Fund also incorporates ESG into its investment processes.
The Maples Group will be providing full fund administration services for the Fund. Ruya Partners selected the Maples Group because of its significant presence in the MENA region, wide-ranging capabilities and long-standing reputation for excellence.
The Fund will invest in private, middle-market companies that either maintain their headquarters in or conduct their principal operations within the MENA region. MENA governments are taking active steps to reform and diversify their economies away from oil and gas. Small and medium-sized enterprises, powered by a youthful, entrepreneurial-minded population, are positioned to drive forward this transformation. The Fund’s mandate is expected to contribute to such efforts through providing capital for the expansion of companies in the MENA region.
“Through the execution of its mandate, the Fund is expected to become a catalyst for the growth of private sector corporates in the Middle East and North Africa (MENA) region by offering bespoke financing solutions to mid-market companies for use in various needs, such as providing growth capital, financing capital expenditures, enabling a realignment of balance sheets, funding M&A transactions and leveraged buyouts,” said Fred Tabbal, Regional Head of Fund Services – Middle East, Maples Group.
Mirza Beg and Rashid Siddiqi, the founding partners of Ruya’s Mirza Beg and Rashid Siddiqi added, “We look forward to working together with Maples Group on the full life cycle of the Fund and to collaborate on future opportunities. We selected Maples Group based on their strong track record in fund administration and continue to have a great experience with them.”