UAE-based Aditum Investment Management has announced plans to raise up to $50m (£37.8m) to back Indian fintech WizzFinancial’s gold-backed private credit strategy.
The programme gives institutional investors access to short-duration, asset-backed private credit products regulated by the Reserve Bank of India, and distributed through financial institutions in the UAE.
Initially offered via UAE banks, the strategy is anchored in India’s $80bn gold-loan ecosystem and is fully secured against gold collateral.
Loans will be issued by WizzFinancial’s regulated non-banking financial company.
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“We are targeting institutional and retail investors from across the region to invest in the fund, which will specifically support WizzFinancial’s gold-loan business,” said Manoj Mahadev, head of investments at Aditum, which manages $9.68bn in assets.
The fund is the first of its kind across India and the Middle East and North Africa region, according to the firms. It will offer daily mark-to-market valuations and conservative loan-to-value limits.
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Gaurav Kumar, deputy chief executive of Aditum, said the partnership sets a “new benchmark” for real-asset-backed private credit.
“Through partnerships such as this, we are strengthening financial bridges between the UAE, India and major global markets, expanding access to institutional-grade opportunities,” added Abubaker Al Khoori, director of WizzFinancial and chief executive of Abu Dhabi Capital Group, a manager based in the UAE.
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