The transaction sets an important precedent within the Gulf, signalling the emergence of NAV lending as a viable and institutionalised tool for fund-level capital management.

Patrimium Asset Management (DIFC), a multi-family office based in Dubai, has wrapped up a $100 million net asset value (NAV) facility provided by Ares Alternative Credit funds. (A NAV facility is a form of fund-based financing.) The funds are affiliates of New York-listed Ares Management Corporation. The transaction was executed through Ares’ Alternative Credit strategy, an investor in asset-based finance, managing about $46.7 billion in assets under management. As of 30 September 2025. Ares manages over $595 billion in total.

The transaction is one of the Gulf’s first publicly disclosed NAV-based financings arranged with a global alternative asset manager, Patrimium said in a statement yesterday. 

With NAV financing, borrowing investors – such as LPs like family offices – can raise liquidity by pledging their underlying portfolio assets (pegged to the NAV) as collateral. This form of financing is intended to be a flexible source of capital that can be deployed by the borrower into new investments without having to rely on asset disposals or external fundraising.  

The facility is structured against a diversified pool of private market investments and provides a flexible source of capital designed to enhance the efficiency of a Patrimium-managed investment vehicle, Patrimium said.The financing supports broader capital planning objectives, including liquidity optimisation, distribution management, and the ability to deploy new capital into opportunities aligned to long-term strategic requirements – without relying on asset disposals or external fundraising, Patrimium said.

“This transaction sets an important precedent within the Gulf, signalling the emergence of NAV lending as a viable and institutionalised tool for fund-level capital management,” Amine Bentaleb, managing partner at Patrimium, said. 

The multi-family office – formed in 2023 – evolved from a single-family office created in 2017. Its managing partners are Zaid Al-Qaimi and Amine Bentaleb.