guidance

Guidance Private Credit Funds 20230504

Issuing bodyADGM
CountryUAE
Date issued2023
private credit fundsfund managementinvestment restrictionsregulatory compliance

This ADGM guidance clarifies the regulatory requirements for Private Credit Funds and their managers. It supplements existing regulations (FSMR, GEN, FUNDS) and focuses on eligibility, authorization, and ongoing compliance. The guidance emphasizes investment restrictions, operational requirements, and investor suitability for these funds, which provide alternative financing to companies.

Key requirements
  • Fund Managers of Private Credit Funds must satisfy requirements in addition to those in GEN and FUNDS.
  • Private Credit Funds are limited to Exempt Funds and Qualified Investor Funds offered to Professional Clients.
  • Private Credit Funds must adhere to specific investment and operational requirements outlined in FUNDS.
Applies to: Authorised Persons and Applicants seeking to act as the Fund Manager of a Private Credit Fund in ADGM
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