Middle East-focused alternative asset manager Gulf Capital has reached a third close for its second private debt fund, GC Credit Opportunities Fund II, with US$222.5 million in capital commitments. The fund previously held a second close in May with US$202.5 million in commitments. Investors in the fund included development finance institution IFC, which invested US$25 million. The fund, which has a target of US$250 million, will provide financing to mid-market companies operating in the Middle East, North Africa, Turkey and Sub-Saharan Africa. Gulf Capital is planning a final close by the end of 2016.