NAV financing specialist 17Capital has appointed Osama Al-Adhamy as managing director and principal representative in its Dubai office, as it looks to expand its presence in the region.
Osama will be based in the Dubai International Finance Centre (DIFC), tasked with growing the firm’s institutional investor base.
He comes from JP Morgan Asset Management, where he was managing director and co-head of Middle East institutional clients.
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Prior to this role, he was part of the global credit markets team at JP Morgan in both Dubai and London.
“I am very pleased to be joining 17Capital at what is an exciting time for the growth of the NAV financing market,” said Al-Adhamhy. “The firm has established itself as a market leader globally within this asset class and I am looking forward to drawing on my experience with clients in the region as we seek to better serve institutional investors in these important markets.”
17Capital has predicted that the NAV financing market could grow to $145bn (£107.2bn) by 2030 and expects that a substantial amount of investment will come from the Gulf.
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The firm recently raised what is thought to be the world’s largest dedicated NAV finance fund, closing on $5.5bn for its Strategic Lending Fund 6, a portion of which was raised from institutional investors in the Middle East and North Africa region.
“We are delighted to welcome Osama to the team as we seek to increase the allocation of capital from the Mena region to our dedicated NAV finance funds,” said Augustin Duhamel, managing partner at 17Capital.
“Osama’s experience working with a broad range of clients in the region, and with a leading global institution, will be invaluable to the continued expansion of our business in the Middle East, where the opportunity for NAV finance is growing at pace.”
17Capital, which was recently acquired by Oaktree Capital Management, has now raised $19bn to date.
