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16.03.26 - 07:24
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Fitch: GCC Banks Have Ample Liquidity, Capital Buffers (Bloomberg)
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Gulf economies could face their worst slump since the early 1990s if the Iran war drags on, with some forecasts warning of sharp contractions should disruptions to the Strait of Hormuz persist. Despite the broader economic risks, ratings agencies say the region's banking systems remain relatively resilient for now, supported by strong capital, liquidity buffers and the expectation of sovereign support. Redmond Ramsdale, Head of Middle East Bank Ratings and Islamic Banking at Fitch Ratings spoke to Bloomberg's Horizons Middle East and Africa anchor Joumanna Bercetche about the resilience of GCC banks. (Source: Bloomberg)...
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09.03.26 - 14:03
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Caldera Real Estate Ventures Announces Closing of a $150 Million Senior Loan for Brevet Capital Management (Business Wire)
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NEW YORK--(BUSINESS WIRE)--#assetmanagement--Caldera Real Estate Ventures (“Caldera”) announced today the successful closing of a $150 million senior construction loan for its long-term client, Brevet Capital Management (“Brevet”) a leading alternative credit, specialty finance, and asset-backed finance platform. The lender, Banco Inbursa (“Inbursa”), is a major Mexican financial institution headquartered in Mexico City that is active in construction and refinance lending throughout major cities across the US. The financing will support the development of a 36-story residential tower alongside a neighboring one-story commercial building.
The project will deliver approximately 620 market-rate apartments and nearly 30,800 square feet of ground-floor retail space, contributing meaningful residential and commercial capacity to the surrounding community at Wharton Piers in Philadelphia.
Acting as strategic advisor throughout the transaction, Caldera worked closely with Brevet and financing partners...
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24.02.26 - 15:00
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Brevet Capital Closes $150 Million Senior Construction Loan for Wharton Piers Development in Philadelphia (Business Wire)
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Financing to fund the construction of Building A, a 36-story and 620-unit residential tower anchoring the waterfront developmentNEW YORK--(BUSINESS WIRE)--Brevet Capital (“Brevet”), a leading alternative credit, specialty finance and asset-backed finance firm, today announced the closing of a $150 million senior construction loan from Banco Inbursa (“Inbursa”) for the development of a 36-story residential tower and neighboring one-story commercial building, comprising 620 market-rate apartments and approximately 30,800 square feet of ground-floor retail space at Wharton Piers. Construction is expected to begin in the first quarter of 2027, with completion projected for the first quarter of 2029 and leasing to commence in the fourth quarter of 2028.
Wharton Piers is a premier mixed-use waterfront project located at 1341 S. Christopher Columbus Blvd. in South Philadelphia. The development features two piers extending into the Delaware River and is expected to provide significant public infrastructur...
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23.02.26 - 05:03
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SheltonAI Announces Ali Tariq as Head of Middle East (Business Wire)
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SAN FRANCISCO--(BUSINESS WIRE)--SheltonAI, the institutional AI platform for pensions & sovereign wealth funds, announces the appointment of Ali Tariq as Managing Director and Head of Middle East.
In this role, Ali will lead the firm's Middle East strategy and expansion, deepening partnerships with institutional investors across the GCC and broader MENA region, including sovereign wealth funds, pensions, and family offices.
Ali brings several years of experience across private markets, having previously served as a senior manager on the investment team at GPSSA, the Federal Pension Fund of the UAE, in Abu Dhabi. Prior to that, Ali was a Vice President at Morgan Stanley in London and New York.
“The Middle East has a highly sophisticated network of institutions, with our mission to support pensioners & stakeholders across the investing spectrum, the GCC is one of the most important global regions for our company,” said Harrison Shaw, CEO of SheltonAI.
“Institutional investors in the region are settin...
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20.01.26 - 05:03
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Piper Sandler Completes Acquisition of MENA Growth Partners (Business Wire)
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MINNEAPOLIS--(BUSINESS WIRE)--Piper Sandler Companies (NYSE: PIPR), a leading investment bank, today announced that it has completed the acquisition of MENA Growth Partners, a merchant bank based in Abu Dhabi that will serve as its strategic investment banking hub in the GCC region.
Nabeel Siddiqui, currently a managing director in the Piper Sandler London office, will relocate to the Abu Dhabi office to lead Piper Sandler's investment banking in the region in addition to maintaining responsibilities over his existing European business. MENA Growth Partners' regional relationships will further connect Piper Sandler's deep domain expertise in energy, infrastructure, chemicals, healthcare, technology, equity capital markets and private capital advisory with clients in the region.
Piper Sandler was advised by the law firm of Al Tamimi & Company and MENA Growth Partners was advised by the law firm of Charles Russell Speechlys and the advisory firm TMF Group, in connection with the transaction.
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