Dubai: First Abu Dhabi Bank (FAB) has announced the launch of five new private market funds for its Global Private Banking customers. This expansion of FAB’s private banking product offering also introduces a new asset class, offering enhanced flexibility and higher liquidity, while simplifying access to private markets for its professional customers.
FAB has partnered with some of the world’s leading asset managers to offer these ‘evergreen’ funds, including Fasanara Capital, Muzinich & Co, PIMCO, Hamilton Lane and Partners Group.
Evergreen funds, also known as perpetual funds, are open-ended fund structures with no termination dates. The five funds offer diverse investment strategies and grant customers exposure to various asset classes, including private credit, real estate debt, corporate debt, and private equity. FAB will retain exclusive distribution rights for several of the newly introduced funds for at least the next six months.
Investing in private markets can yield attractive returns, but it can also present challenges in terms of complexity and liquidity. The new funds give FAB clients a streamlined and efficient avenue to access private equity through a single allocation and, in so doing, improve portfolio resilience.
The new asset class and evergreen private market funds were introduced at FAB’s Global Private Banking event, ‘Unveiling New Investment Opportunities’. This marks the latest step in the bank’s commitment to providing clients with seamless access to the best global financial products.
The five new Evergreen liquid Private Market Funds are:
Fasanara Global Diversified Alternative Debt Fund: The fund offers an exposure to a globally diversified alternative credit portfolio with Real Economy Impact, investing in trade receivables and loans bought from underserved SMEs globally.
PIMCO Tactical Opportunities Fund: PIMCO’s flagship alternative credit strategy spanning both public and private credit markets, the fund targets assets globally in less crowded areas of real estate, corporate, and specialty credit markets.
Muzinich MLoan Fund: An income-generating private debt strategy that focuses on lending to conservatively capitalised European middle market companies. The Fund seeks to preserve capital, even in inflationary periods, through a well-diversified portfolio of floating rate instruments.
Hamilton Lane Global Private Assets Fund: Enables access to a diversified private markets portfolio through a single allocation.
Partners Group Global Value: A diversified private markets portfolio, with asset allocation across direct investments, primaries and secondaries, and offering a wide range of vintage diversification.
About First Abu Dhabi Bank (FAB):
Headquartered in Abu Dhabi with a strategic global footprint across 20 markets, FAB is the finance and trade gateway to the Middle East and North Africa region (MENA). With total assets of AED 1.2 trillion (USD 323 billion) as of September-end 2023, FAB is among the top 50 banks globally by market capitalisation and one of the world’s largest banking groups. The bank provides financial expertise to its wholesale and retail client franchise across four business units: Investment Banking, Corporate and Commercial Banking, Consumer Banking, and Global Private Banking. FAB is listed on the Abu Dhabi Securities Exchange (ADX) and rated Aa3/AA-/AA- by Moody’s, S&P and Fitch, respectively, with a stable outlook. On sustainability, FAB holds an MSCI rating of ‘A’, also ranked among the top 10% of banks globally by Refinitiv’s ESG Scores and the best performer in the MENA region. FAB is a strategic pathway partner of the 28th UN Climate Change Conference of Parties (COP28), which is being held in the UAE from November 30 to December 12, 2023.
For further information, visit: www.bankfab.com