Abu Dhabi based Ruya Partners is raising up to $400 million for a new Middle East focused private credit fund. The fund aims to address growing financing gaps in Saudi Arabia as banks slow lending despite rising demand for capital. The plan highlights the fast growth of private credit across the Gulf region.
The strategy comes at a critical time for Saudi businesses seeking flexible and timely financing.
Responding to a Clear Market Gap
Ruya Partners sees a major funding gap in the Saudi market. Many companies need loans that fall outside traditional bank appetite. These deals also remain too small for large global credit managers.
The firm targets loans ranging from $10 million to $50 million. This segment often struggles to secure funding.
Key market challenges include:
- Slower bank lending
- Rising capital needs
- Limited access to mid sized loans
- Growing project pipelines
Ruya aims to step in where banks pause and global funds hesitate.
Strong Institutional Backing
Ruya Partners benefits from support by leading regional institutions. Its backers include Mubadala Investment Company and Public Investment Fund.
This backing strengthens investor confidence. It also supports long term fund execution.
The firm now targets capital from:
- Family offices
- Pension funds
- Endowments
Partner Omar AlYawer shared these plans in an interview with Bloomberg.
Focus on Middle Market Lending
Ruya plans to focus first on middle market private credit. The fund will prioritize Saudi Arabia for most deployments. The UAE will also see activity.
Initial investment focus areas include:
- Corporate lending
- Growth capital solutions
- Structured private credit
Over the next three years, the firm may expand into:
- Real estate credit
- Infrastructure credit
This phased approach allows disciplined growth and risk control.
Private Credit Gains Momentum in the Gulf
Private credit continues to gain traction across the region. Governments and businesses need capital to support large scale transformation programs. Saudi Arabia’s Vision 2030 plays a central role in this demand.
Several regional and global players now increase their presence.
Active managers include:
- Janus Henderson
- Jadwa Investment Co
Global firms also expand through partnerships and deals. These include Goldman Sachs and KKR.
Timing and Outlook
Ruya expects a first close in the coming months. The timing aligns with strong capital demand and limited bank supply. Private credit now plays a vital role in funding growth across the Kingdom.
Ruya Partners positions itself as a focused solution provider. The firm targets real gaps with tailored credit strategies. Its approach reflects the next phase of capital formation in Saudi Arabia and the wider Gulf.