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

Fitch Says Alternative Asset Managers 'Stable' Despite Dry Powder

Nov 20 2014 | 9:30am ET

Ratings agency Fitch says the outlook for seven publicly traded alternative asset...

Lifestyle

Cohen Buys $101 Million Sculpture

Nov 12 2014 | 9:17am ET

Steven Cohen was the sole bidder for a rare Alberto Giacometti sculpture at Sotheby...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

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.