Magellan Capital Launches $50m Fund – The First Asset-Backed Vehicle Incorporated In The DIFC, Targeting $250 Million AUM

Magellan Capital, the DFSA-regulated investment manager, is today launching the Gulf’s first institutional open-ended fund investing in asset-backed facilities across the GCC and Europe.

The Magellan Asset Backed Opportunities Fund (MABO) launches with $50 million in seed capital and is targeting $250 million AUM in the medium term. It is the first such vehicle incorporated in the DIFC and registered as a Domestic Fund with the DFSA.

Asset-backed lending has underpinned credit markets in Europe and North America for decades. The Gulf has had no institutional equivalent — and the region’s SMEs have paid for it, caught between banks that focus on large corporates and a persistent financing gap. MABO was built to fill it.

The first of these is