Riyadh – Sharikat Mubasher: SAB Invest, the investment arm of Saudi Awwal Bank, is aiming to raise SAR 1 billion ($266 million) to launch the first private credit fund focused on the Middle East and North Africa, as reported by Bloomberg.

According to Osama Alowedi, Chief Investment Officer, the firm has already secured approximately $100 million from regional wealth managers and family offices, with plans to raise the remaining capital over the coming year.

The Shariah-compliant fund will focus on debt financing, including sukuk for SMEs, venture debt for startups, and infrastructure-related credit instruments, targeting a 10–11% annual cash return.

The initiative aligns with the Kingdom’s broader push to develop its financial sector, attract foreign investment, and support economic diversification. In March, the Public Investment Fund (PIF) committed to regional private credit vehicles managed by Goldman Sachs Asset Management.

SAB Invest, an independently managed subsidiary of Saudi Awwal Bank, manages over $9 billion in assets. The bank’s parent company includes HSBC Holdings among its key shareholders.