NBK Capital Partners, an alternative investment fund manager focused on the Middle East and North Africa, has reached a first close for NBK Capital Partners Real Estate Fund I with US$75 million in capital commitments. Investors in the fund include regional institutions, pension funds, family offices and high-net worth individuals. The fund will aim to acquire a sharia-compliant portfolio of assets through sale-leaseback transactions across the logistics, health care and education sectors. NBK is targeting US$150 million in total commitments for the fund, as well as US$50 million in co-investment commitments.