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Arcapita backs Saudi Arabian women's boutique fitness chain

Arcapita Inc., an alternative investment manager, capitalized NuYu, a Saudi Arabian boutique fitness chain for women.

Among other things, the investment will help the boutique gym allocate more than 250 million Saudi Arabian riyals to expand its network to more than 30 sites across the country, with the new facilities expected to create jobs and offer women in underserved locations access to fitness outlets.

As of Oct. 15, US$1 was equivalent to 3.75 Saudi Arabian riyals.