Qatar Firm Launches Shariah Compliant Private Equity Fund

May 22 2007 | 2:45pm ET

Qatar-based alternative investment firm Corecap this week launched an Islamic private equity fund with some US$150 million in committed capital. The new offering, Corecap Islamic Private Equity Fund I, will make shariah-compliant investments in businesses in the Middle East and North Africa.

“The favorable regional macro-economics conditions resulting in GDP growth exceeding 7% p.a. in most countries, large forex reserves, reasonable inflation, real and budget surpluses have encouraged international and regional investors to seek investments in the region,” said Sheikh Mohamed Althani, chairman of Corecap. ”With abundant liquidity, underperforming capital markets and scarce investment products, a niche for investment opportunities in alternative asset classes has risen.”

According to Khaled Hassan Rashed, CEO and board member the new fund, CIPEF I is a close-ended six-year fund targeting a minimum internal rate of return of 25% annually. It is open to institutional and high net worth and investors with a minimum investment requirement of US$ 3 million. The fund will be overseen by an independent board comprised of shariah'a scholars.

Corecap was founded by Althani, who is the former minister of economy and commerce in Qatar, Rohit Walia who is the CEO and managing director of Swiss banks Bank Sarasin-Alpen and Alpen Capital, and by CorePartners, an investment management firm comprising a team of private equity professionals, including Rashed.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.