Abu Dhabi, UAE – Ruya Partners recently became a signatory to the United Nations-supported Principles for Responsible Investment (PRI). The firm, the first partner-owned private credit firm in the Middle East, also became the first private credit firm in the Middle East region to join the organization. The PRI is an international global network of asset managers, owners, and service providers working together to put responsible investment into practice by voluntarily adhering to six investment principles. These voluntary principles provide a framework for integrating environmental, social, and corporate governance (ESG) considerations into investment decision-making and monitoring practices.
The six principles are:
- Incorporation of ESG issues into investment analysis and decision-making processes;
- Being active owners (where relevant) and incorporate ESG issues into ownership and investment monitoring policies and practices;
- Seek appropriate disclosure on ESG issues by the entities in which investments are made;
- Promote acceptance and implementation of the principles within the investment industry;
- Working together to enhance the effectiveness of implementing the principles; and
- Reporting on our activities and progress towards implementing the principles.
Founding Partners Mirza Beg and Rashid Siddiqi stated: “We are excited to continue our evolving ESG journey by becoming signatories to the PRI and applying the six principles to our investment process. As private credit investors, we are stewards of long-term capital. Therefore, we aim to ensure that our investments help companies grow and evolve to global best practices. In addition, during our investment, we help our investee companies become more aware of ESG-related issues and improve their ESG-related practices.”
“This milestone aligns naturally to Ruya’s ethos and is welcomed by investee companies and investors. We believe that more companies throughout the emerging markets will evolve towards adopting PRI, especially those in the MENA region,” added Omar Al Yawer, Partner at Ruya Partners.
David Atkin, CEO of the Principles for Responsible Investment, comments: “We’re pleased to welcome Ruya Partners as a new signatory to PRI. The role of private credit in facilitating long-term change on ESG issues is hugely important, and we look forward to working with Ruya Partners to help facilitate this systemic change in the future.”
About Ruya Partners
Ruya (“Vision” in Arabic) was founded with the mission of providing flexible capital solutions to mid-market and late-stage venture private sector companies in the emerging markets. Ruya provides bespoke funding solutions to this segment while delivering a superior risk-adjusted return supported with regular current income to its investors. Ruya is regulated by ADGM’s Financial Services Regulatory Authority and is licensed to manage collective investment funds.www.ruyapartners.com