Ruya Partners Limited has chosen The Maples Group to provide fund administration services for its Ruya Private Capital I LP Fund.
Ruya Partners is an independent, partner-owned private capital investment firm that provides financing solutions for private-sector firms in developing markets.
The fund will invest in private, middle-market companies that maintain their headquarters in, or conduct their principal operations within, the MENA region.
“MENA governments are taking active steps to reform and diversify their economies away from oil and gas,” says The Maples Group.
“Small and medium-sized enterprises, powered by a youthful, entrepreneurial-minded population, are positioned to drive forward this transformation,” it adds.
In line with its initiative to move from oil and gas, the Fund incorporates ESG into its investment processes.
Fred Tabbal, regional head of fund services – Middle East at The Maples Group, says: "Through the execution of its mandate, the Fund is expected to become a catalyst for the growth of private sector corporations in the Middle East and North Africa (MENA) region, by offering bespoke financing solutions to mid-market companies.”
Mirza Beg and Rashid Siddiqi, the founding partners of Ruya’s Mirza Beg and Rashid Siddiqi add: "We selected Maples Group based on their strong track record in fund administration and continue to have a great experience with them."
