Middle East-focused alternative asset manager Gulf Capital has reached a final close for its second private debt and mezzanine fund, Gulf Credit Opportunities Fund II, over its target of US$250 million in capital commitments. Investors in the fund include sovereign wealth funds, international institutional investors, regional insurance companies, foundations and family offices. Development finance institution International Finance Corporation committed US$25 million to the fund, which will invest across the Middle East, Turkey and Africa and focus on defensive sectors such as health care, education, industrials, power, water and oil and gas.