Bahrain-based SICO, a regional asset manager, has partnered with Oman National Development Company (Tanmia) to launch a new fund valued at $126 million.

Unveiled on Thursday at the Muscat Stock Exchange, the Tanmia Liquidity Fund looks to boost liquidity on the local bourse, according to a statement.

Tanmia, an investment and fund management company, will act as the investment manager for the fund in collaboration with SICO, which has $6.2 billion in assets under management.

“The fund… is dedicated to enhancing market depth and boosting liquidity on the exchange while achieving long-term capital growth for the fund,” the statement said.

The launch of the fund coincides with the ongoing reforms within the Omani capital markets, including new IPO announcements and regulations pertaining to market making.

(Writing by Cleofe Maceda; editing by Seban Scaria)