NBK Capital raises $75m for real estate fund

NBK Capital Partners has held a $75 million first closing for its real estate fund.

Fund commitments were raised primarily from prominent regional institutions, pension funds, family offices and HNWIs.

The fund is aggregating a portfolio of Shari’a-compliant real estate assets acquired primarily through sale-leaseback transactions across the logistics, healthcare and education sectors. It aims to capitalize on attractive underlying market dynamics such as the rise of e-commerce and regional demographic trends driving demand for healthcare and education. The firm is targeting a final closing for the fund by the end of 2018, with $150 million in total commitments and $50 million in co-investment commitments.

NBK Capital Partners Real Estate Fund I’s first investment is a $95 million state-of-the-art K-12 education campus in Dubai, UAE, long-leased to an international curriculum school.

“This all-weather conservative fund focuses on income-generating a