Janus Henderson banks $191M at second close of Shariah-compliant MENA private credit fund

RIYADH — Janus Henderson has reached $191 million in commitments at the second close of its MENA Private Credit Fund IV, putting the vehicle two-thirds of the way to its $300 million target.

The commitments came from institutional investors and family offices in Saudi Arabia and the UAE. The fund is Shariah-compliant and will lend directly to profitable mid-market businesses across Saudi Arabia, the UAE and select MENA markets.

The plan is concentrated: 10 to 12 investments of $15 million to $50 million each. That cheque size targets a segment of Gulf mid-market companies that sits between bank lending and venture-style private equity, where demand for non-bank financing has been building.

The raise is the latest data point in private credit's shift from niche allocation to core strategy for regional institutional money. A global manager structuring the vehicle as Shariah-compliant from the outset shows where the marginal LP dollar in this market now sits.

Watch the pace of deployment once the fund starts writing cheques, and whether a final close lands at or above the $300 million target.

WAYA first reported the close.