Emerging Markets Private Capital

Pioneering private investments in emerging markets

Janus Henderson’s Emerging Markets Private Capital team is based in Abu Dhabi.



The team was acquired in 2024 from NBK Wealth, where they achieved one of the most successful track records in the MENA region through investments in 40 companies and 27 portfolio exits. Their proven track record is the result of strong deal origination capabilities and hands-on, operational approaches to portfolio management.

The Emerging Markets Private Capital team currently manage four private credit and private equity strategies, investing in emerging markets including the Middle East and North Africa.

Past performance does not predict future returns. The value of an investment may go down as well as up and you may loose the amount originally invested.

Emerging Markets Private Capital team at a glance


Governance_Columns_Inverse

2006

Foundation year

Illustration of a person's open hand with a coin to indicate currency
USD $1.1 billion to date for investors like you

Capital commitments

Graph_BarChart_StockRating
18 years of performance and growth

Track record

L1_Inverse_Growth_10x
Advised on 40 companies with 27 successful exits

Investment milestones

L1_Inverse_People_Stakeholders
Initiated the MENA region's first dedicated private credit vehicle

Innovation

Source: Janus Henderson Investors. As of 6/30/25.

Our Competitive Advantage


Top private credit investor in MENA region
Pioneered MENA private credit through launch of first-generation fund at the height of GFC and launched region’s first institutional Shari’ah-compliant private credit fund
Long tenured senior leadership team with over 10 years of working together
Cross-border specialist
Experience in navigating the complexities of local technical nuance across multiple MENA countries
Robust origination network
Institutional ownership with strong governance standards
Entrusted by leading regional LPs

A history of growth and innovation

Businesswoman on laptop at window in morning sun

A tradition of innovation

Innovation is at the core of what Janus Henderson offers. As part of NBK Wealth, our Emerging Markets Private Capital team introduced the first private credit vehicle in the Middle East fifteen years ago. This vehicle ranked among the top-performing mezzanine debt funds globally in its vintage year.

Investing in a brighter future together

With the emerging markets arena still largely untapped by private capital, our Emerging Markets Private Capital Team aims to tap the evolving opportunities in emerging economies and bring differentiated private investments to clients.

a lightbulb with the ocean at sunset in the background

Embracing a long-term trend


Private Equity


Since inception of our private equity strategy in 2006, we have advised on three funds focusing on middle-market companies headquartered in MENA and Turkey. We have advised on 19 investments, 2 bolt-on acquisitions and 16 realisations. We have advised on fund investments, supporting various types of investments, including buyouts or partnerships with family-owned businesses, growth capital for organic growth initiatives and equity capital for industry consolidation.

Real Estate


Our regional real estate fund was launched in 2016 with an objective to provide stable rental yield to investors seeking exposure to regional commercial real estate. Our inaugural real estate fund was structured to comply with the Shari’ah principles through sale-leaseback transactions focused on core defensive sectors.

Emerging Markets Private Credit Strategy


Man in a business meeting using an interactive screen while giving a presentation

The Emerging Markets Private Credit strategy provides privately negotiated secured debt to middle market corporate borrowers across various sectors. The proceeds of private credit financing can be applied towards growth capital, acquisition financing and buyouts, balance sheet refinancing or dividend recapitalization. We have the flexibility to invest across the capital structure through conventional or Shari'ah-compliant debt structures or hybrid securities.

The Private Credit team employs a disciplined cash flow lending approach that has been honed over 15 years of credit investing. Our objective is to generate attractive risk-adjusted returns, with a focus on current income, downside protection and equity upside potential.

Business Colleagues Analyzing Financial Charts and Graphs
Team of businesspeople discussing project in office conference room

We bring together distinctive characteristics of international education and deal experience, combined with deep credit skills, restructuring experience, proprietary deal flow, and intimate local knowledge of the GCC market necessary to successfully deliver the Fund’s investment strategy. Our proven-track record and longstanding reputation in the market make it a capital source for various mid-market companies.

Emerging Markets Private Capital team


With over a decade of investing experience in the region, we have been successful at driving value for our investors and portfolio companies by combining cultural understanding with our deep knowledge of regional business dynamics and regulatory frameworks.

Yaser Moustafa

Head of Emerging Market Private Investments

Mirsaid Kupuev

Executive Director

Sikander Ahmed

Head of MENA Private Credit

Erdem Kilic

Principal

Tamer Karam, CFA

Executive Director

Our Private Credit Investments


Qimam El-Hayat International Schools logo
Moove logo
Monty Mobile The Art of Telecom logo
United Saudi Company For Nonwoven Fabric Production
MIDO Coatings Since 1979 logo
Humania Progressing Wellbeing

References above do not constitute a recommendation and should not be assumed to be profitable.

Connect with our team to explore what's possible


Unlock the full potential of your financial future by speaking with our dedicated professionals today. Let us guide you through tailored solutions and opportunities driven by your goals and our expertise.