Exploring Hejaz Wholesale Funds: Different Strategies for Different Objectives

*This information is intended for wholesale clients only, as defined under the Corporations Act 2001 (Cth).

Not every private-market strategy is designed to do the same job. For investors considering income, private credit or long-term growth, understanding that distinction can be as important as the target return itself.

As private markets become a more established part of portfolio construction, strategy, asset selection and liquidity are increasingly important considerations. McKinsey’s 2026 Global Private Markets Report reflects this broader shift, with investors placing greater emphasis on how private-market exposures fit within a portfolio.

For eligible investors seeking Sharia-compliant opportunities, Hejaz Wholesale Funds provide three distinct strategies across enhanced income, private credit and private equity.

Why Private Markets May Have a Role

Private markets can provide exposure to financing arrangements and businesses that are not publicly listed. Within the market, however, strategies can differ significantly in how capital is deployed and how returns are generated.

Private credit and private equity therefore serve different portfolio objectives. An income-focused financing strategy has a different role from an investment seeking long-term growth through private businesses.

This distinction is reflected across the Hejaz Wholesale Funds range.

Three Hejaz Wholesale Funds to Consider

1. Hejaz Enhanced Income Fund

*Target returns are not guaranteed. An investment in the Fund is subject to investment risk, including possible loss of income or capital. Please refer to the relevant Information Memorandum for further details.

The Hejaz Enhanced Income Fund (HEIF) focuses on income through direct debt financing, structured financing and private credit. Its focus may suit portfolios where regular distributions are an important consideration. Learn more about the Hejaz Enhanced Income Fund.

2. Hejaz Private Credit Fund

*Target returns are not guaranteed. An investment in the Fund is subject to investment risk, including possible loss of income or capital. Please refer to the relevant Information Memorandum for further details.

The Hejaz Private Credit Fund (HPCF) provides exposure to Sharia-compliant private credit and financing opportunities through structured arrangements. Its private-credit focus and monthly distribution profile distinguish it from HEIF. Learn more about the Hejaz Private Credit Fund.

3. Hejaz Private Equity Fund

*Target returns are not guaranteed. An investment in the Fund is subject to investment risk, including possible loss of income or capital. Please refer to the relevant Information Memorandum for further details.

The Hejaz Private Credit Fund (HPCF) provides exposure to Sharia-compliant private credit and financing opportunities through structured arrangements. Its private-credit focus and monthly distribution profile distinguish it from HEIF. Learn more about the Hejaz Private Equity Fund.

Looking Beyond the Target Return

Target return should not be viewed in isolation.

Investors can consider how returns are generated, whether a strategy is designed around income or growth, how frequently income is distributed, and how long capital is expected to remain invested.

The 3–5 year horizon across the three funds is also relevant when considering future capital needs. Private-market investments can have different liquidity characteristics from publicly traded assets, making the investment horizon an important part of portfolio planning.

The objective is therefore not simply to identify the highest target return, but to understand whether a strategy provides the right exposure for its intended role.

Sharia Compliance as Part of the Decision

For Muslim investors, there is an additional consideration: whether the investment remains aligned with Sharia principles.

Sharia compliance is not determined by asset class alone. The underlying businesses, financing arrangements and sources of returns also need to be considered.

Understanding how capital is deployed and how returns are generated is therefore relevant to both portfolio analysis and Sharia alignment.

Finding the Appropriate Fit

The three Hejaz Wholesale Funds address different objectives, from income generation through financing to long-term growth through private equity.

For eligible sophisticated investors, the decision comes down to how each strategy’s exposure, target return, investment horizon and risk characteristics fit with the rest of the portfolio.

The focus is not simply on which strategy has the highest target return, but on which provides the most appropriate exposure for the role an investor wants that allocation to play.

Book a meeting with the Hejaz team to learn more about the Wholesale Funds range and the options available to eligible investors.

Disclaimer:

Hejaz wholesale investment funds are offered to qualifying investors only, in accordance with the Corporations Act 2001 (Cth). These funds are issued and managed by Hejaz Funds Management Pty Ltd (ABN 87 138 165 901, AFSL 339583). They are not available to retail investors. The information provided on the Hejaz website, in any offer documents, or promotional material is intended solely for professional, sophisticated, or wholesale investors as defined by the Corporations Act and is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation. The information is general in nature, does not take into account your investment objectives, financial situation, or needs, and does not constitute financial product advice. You should seek independent professional advice before making any investment decision. Investment in these funds carries risk, and you may lose some or all of your investment. Past performance is not a reliable indicator of future performance. Product features, fees, and charges may change without notice. References to “Islamic” or “Sharia-compliant” products relate to compliance with Islamic finance principles as interpreted by our appointed Sharia advisers. These interpretations may differ from those of other scholars or organisations. By accessing the Hejaz website, materials, or products relating to these wholesale funds, you confirm that you are a wholesale investor and agree to the terms of this disclaimer.