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A Shuaa Capital-managed fund has secured a $300 million facility from National Bank of Fujairah (NBF) and The Arab Energy Fund (TAEF), formerly known as Apicorp, to drive growth in its marine offshore support vessel (OSV) segment.
The seven-year facility is to finance growth in marine services operators Stanford Marine Group and Allianz, and was secured by the Dubai-listed entity’s ADGM-domiciled Shuaa-Managed Fund, which is managed by the entity’s Abu Dhabi arm, Shuaa GMC.
Stanford Marine and Allianz were acquired by Shuaa-Managed Fund in 2020 and 2022 respectively.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
