ITFC, Federated Investors to launch $300 mln trade finance fund

The Saudi-based International Islamic Trade Finance Corp (ITFC) and US-based fund manager Federated Investors plan to launch a $300 million fund, aiming to tap trade finance opportunities in Muslim-majority countries, the two companies said in a joint statement.

The Shariah-compliant fund is expected to launch later this year and would invest in energy-related structured trade, supply chain financing and project finance assets of sovereign entities, the statement said.

The fund will be managed by ITFC with input from Federated Investors.

The two firms have worked together on Islamic trade finance transactions since 2014.