The asset manager adds Ruya Partners to a diversified portfolio of partnerships to date
- Ruya Partners has selected Abu Dhabi Global Market to establish its private credit investment business
Abu Dhabi UAE : Abu Dhabi Catalyst Partners (“ADCP”), a leading asset manager mandated to support the development of Abu Dhabi Global Market, today announced its partnership with Ruya Partners Limited (“Ruya”), an independent, private credit firm focused on investing into private, mid-market companies operating within regional developing markets. The transaction reiterates Abu Dhabi Catalyst Partners’ commitment to the development of the finance ecosystem from its headquarters at Abu Dhabi Global Market (“ADGM”).
Established in 2020, Ruya is the region’s first partner-owned private credit firm, formed with a vision to become the premier provider of creative and flexible private capital solutions. The firm aims to deliver attractive risk-adjusted returns to investors while adhering to global ESG standards. Ruya will provide alternative financing solutions to private companies that are largely under-served by traditional financing markets.
Ruya will make structured credit investments in companies with strong business fundamentals, cash generating capabilities and well-established management teams with a successful track-record. Ruya’s capital will typically be used to finance growth, acquisitions, recapitalize company balance sheets, or rationalise the existing investor base, amongst other general corporate purposes.
Ruya announced its first investment earlier this year, a US$25 million private credit investment in Abu Dhabi based Starzplay Arabia, the leading subscription video-on-demand service in MENA that streams Hollywood and Arabic content to over 20 countries across the region and Pakistan.
James Munce, CEO of Abu Dhabi Catalyst Partners, said: “This partnership is an important step in advancing SMEs’ access to growth capital, especially the mid-market segment Ruya is focused on. Ruya’s alternative credit offering will help overcome a material funding gap in MENA markets, play a significant role in growing the SME ecosystem and further promote access to institutional capital. Ruya’s Founding Partners have played a strong role in developing the private credit market in the region over the last decade, and Abu Dhabi Catalyst Partners is excited to support the team as it establishes its private credit business in ADGM.”
Mirza Beg, Founding Partner of Ruya, said: “We are very honoured to have ADCP as our core partner in this journey and continue to have a great experience working in a progressive financial center like ADGM.” Rashid Siddiqi, Founding Partner of Ruya, added: “It is exciting to build on our 13-year journey of making private credit investments in this region. We look forward to continue supporting mid-market companies to achieve their growth and expansion aspirations.” Omar Al Yawer, Partner of Ruya commented: “Being a partner-owned firm is unique for this region and ensures the highest level of team stability, transparency and alignment of interest between partners and investors in creating long-term value.”
About Ruya Partners
Ruya (“Vision” in Arabic) was founded with the mission of providing flexible capital solutions to private sector companies in developing economies where traditional financing markets leave a significant funding gap, particularly in the small to medium sized enterprise segment. This segment is vital for the regional economies and plays a significant role towards achieving GDP growth, diversification and advancing the goals of regional socio-economic agendas. Ruya provides bespoke funding solutions to this segment while delivering a superior risk adjusted return underpinned 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.
About Abu Dhabi Catalyst Partners Limited
Abu Dhabi Catalyst Partners was established in April 2019 as a US$1 billion joint venture between Mubadala Investment Company and Falcon Edge Capital, a New York-based investment company. Abu Dhabi Catalyst Partners’ investment mandate is to partner with top-tier investment firms and industry leading businesses that would benefit from developing a meaningful and sustainable presence in the ADGM. With a sector-agnostic investment strategy, the company seeks to contribute to the economic diversification of the Abu Dhabi economy.