Abu Dhabi’s Gulf Capital says that it has closed three new investments totalling $46m that include a $22m investment in oil and gas infrastructure in Egypt

“[The] transaction in the infrastructure space of oil and gas in Egypt supports the growth and operational needs of a leading liquefied petroleum gas [LPG] and gasoil storage and delivery services to the Egyptian Government. This investment is the fifth for Gulf Capital in Egypt and the second for Fund II,” says Walid Cherif, Gulf Capital’s senior managing director who heads Gulf Credit Partners.

The three investments were made by Gulf Capital’s private debt fund known as Gulf Credit Opportunities Fund II. It now has four investments accounting for 30 per cent of the fund. The other two investments were in transportation and logistics in East Africa and consumer services in Turkey.

Gulf Capital has a total of AED1.744bn ($471.35m) of assets under management in its private debt financing business.

Gulf Capital’s other investments in Egypt include Middle East Glass (MEG), which in 2016 acquired 100 per cent of Misr Glass Manufacturing (MGM). In May 2015, Gulf Capital signed a AED92m ($25m) financing agreement to fund Carbon Holdings’ industrial projects in Egypt.